January Home Sales Highest Since 2007

Los AngelesSouthern California’s housing market started 2013 with the highest January home sales in six years as sales to investors and cash buyers hovered near record levels and move-up activity remained relatively brisk. The median price paid for a Southland home dipped slightly from December, as it normally does, but jumped 23.5 percent above the year-ago level, a real estate information service reported.

A total of 16,058 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was down 20.8 percent from 20,274 sales in December, and up 10.6 percent from 14,523 sales in January 2012, according to San Diego-based DataQuick.

A drop in sales from December to January is normal for the season and, on average, sales have fallen 27.8 percent between those two months since 1988, when DataQuick’s statistics begin. Last month’s sales were the highest for the month of January since 18,128 homes sold in January 2007, though they were 8.8 percent below the January average of 17,609 sales. The low for January sales was 9,983 in 2008, while the high was 26,083 in 2004.

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