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SoCal Home Sales Slow To 10-Year Low In October

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Nov 14, 2006 6:50 pm US/Pacific

SoCal Home Sales Slow To 10-Year Low In October

LOS ANGELES (AP) ― A real estate research firm says Southern California home sales fell in October to the lowest level for the month in a decade.

According to DataQuick Information Systems, 22,117 new and resale houses and condos were sold in October in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties.

The figure represents a 22.4 percent decline from October 2005 and a 2.4 percent drop from September sales.

The last time fewer homes were sold in the region during October was 1996, when sales totaled 18,505.

Meanwhile, the pace of home price growth kept slowing in several counties, but the median home price for the entire region hit $484,000, a 2.3 percent increase compared to October 2005.

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