Los Angeles Loans from the California Mortgage Loan Company
Home sales in LA County were down about 33 %. Many fewer homes in the lower-prices areas are selling. That means median prices aren't falling anywhere near as much as the values of some individual homes are . Home sales across a six-county area of Southern California hit a 14-year low for June, a real estate research firm reported. In San Diego County, the median home price fell to $495,500 -- a decline of nearly 2 % from last June. The number of homes sold in San Diego dropped more than 22 % to just over 3,500. Riverside and San Bernardino counties led a pronounced decline in sales of entry-level homes.
In all, more than 20,000 houses and condominiums were sold last month in Los Angeles, Riverside, San Bernardino, San Diego, Orange and Ventura counties. The total represents a 36.2 % drop from June 2006 and an increase of 1.5 % from sales in May, Data Quick Information Systems reported. Last month's sales fell to the lowest level for June since 1993.
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