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DQNEWS(SoCal) Southland Home Sales Jump in February, Prices Still Down Yr/Yr

By thomas.wong1986   Follow   Thu, 15 Mar 2012, 12:06am   1,023 views   5 comments
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Southland Home Sales Jump in February, Prices Still Down Yr/Yr

March 14, 2012

http://dqnews.com/Articles/2012/News/California/Southern-CA/RRSCA120314.aspx

The median price paid for a Southland home last month was $264,750, up 1.8 percent from $260,000 in January but down 3.7 percent from $275,000 in February 2011.

-- So much for talk of price increases. Worth reading if your in SoCal.

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1. tatupu70 Follow Befriend (3) 15 threads 5,718 comments

   1   4:22am Thu 15 Mar 2012   Share   Quote   Permalink   Like   Dislike   It is up from January. The current trend is up and with sales rising and inventory falling, prices will almost certainly continue to rise...

2. xenogear3 Follow Befriend 10 threads 419 comments

   2   6:02am Thu 15 Mar 2012   Share   Quote   Permalink   Like   Dislike   Only the bad neighborhood goes down. The good real estates never go down.

3. StoutFiles Follow Befriend (1) 24 threads 557 comments

   3   6:06am Thu 15 Mar 2012   Share   Quote   Permalink   Like   Dislike   tatupu70 says It is up from January. The current trend is up and with sales rising and inventory falling, prices will almost certainly continue to rise... I don't think you realize how many people have been waiting on the sidelines. Once prices have a steady trend upwards that's noticed by most mainstream media, there will be a tidal wave of new homes up for sale. Add that to the foreclosures that are hitting the market much faster due to the recent mortgage settlement, and we're about to see another plummet before this is all over.

4. coorsbay Follow Befriend 9 comments Bellingham, WA

   4   6:18am Thu 15 Mar 2012   Share   Quote   Permalink   Like   Dislike   xenogear3 says Only the bad neighborhood goes down. The good real estates never go down. I agree.... Real Estate will always have good pockets and bad....Sometimes only 3 blocks can change the perception and the price.. especially in Socal

5. tatupu70 Follow Befriend (3) 15 threads 5,718 comments

   5   6:48am Thu 15 Mar 2012   Share   Quote   Permalink   Like   Dislike   StoutFiles says I don't think you realize how many people have been waiting on the sidelines. Once prices have a steady trend upwards that's noticed by most mainstream media, there will be a tidal wave of new homes up for sale. Add that to the foreclosures that are hitting the market much faster due to the recent mortgage settlement, and we're about to see another plummet before this is all over. Perhaps. But people who sell their house will also be buying a different house, won't they? A new wave of foreclosures would change things, but inventory is very low right now. If they are hitting the market much faster right now, it's not having much of an effect.