Southern California home sales rose above year ago levels in June for the sixth month in a row, real estate research firm DataQuick said Tuesday.
A total of 22,075 new and resale houses and condos sold in the counties of Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange.
Median home prices also grew as fewer foreclosures hit the market and buyers began hunting for houses in pricier markets.
The median price paid for a home in the six counties measured in the survey rose to $300,000, up 1.7% from $295,000 in May and 5.3% from $285,000 in June of 2011.
Higher buyer demand and falling inventory levels also are pressuring prices, DataQuick said.
“The June numbers look pretty good at first glance, but they’re more mixed when you scratch beneath the surface. Yes, the median sale price rose again. But it’s clear this has a lot to do with changes in the types of homes selling, rather than across-the-board price appreciation,” said John Walsh, DataQuick president. “Fewer of the homes selling now are foreclosures, while more are nice houses in mid- to higher-end neighborhoods. June sales were stronger than a year earlier, but they were also around 20% below average for that month.”
