Weather | Traffic | Surf | Maps | Webcam


   
 
Forums Visitors Guide Shopping Classifieds Autos Homes Jobs Entertainment Sports Today's Paper Home

 News
 Metro | Latest News
 North County
 Temecula/Riverside
 Tijuana/Border
 California
 Nation
 Mexico
 World
 Obituaries
 Today's Paper
 AP Headlines
 Business
 Technology
 Biotech
 Markets
 In Depth
 Iraq / Afghanistan
 Pension Crisis
 Special Reports
 Video
 Multimedia
 Photo Galleries
 Topics
 Education
 Features
 Health | Fitness
 Military
 Politics
 Science
 Solutions
 Opinion
 Columnists
 Steve Breen
 Forums
 Weblogs
 Communities
 U-T South County
 U-T East County
 Solutions
 Calendar
 Just Fix It
 Services
 Weather
 Traffic
 Surf Report
 Archives
 E-mail Newsletters
 Wireless | RSS
 Noticias en Enlace
 Internet Access


Seen your credit card limit cut? Been turned down for an auto loan? Let us know how the credit crunch is affecting you. Call Jennifer Davies at 619-293-1373 or email her.

 Sponsored Links

June home sales up, but prices fall sharply


SIGNONSANDIEGO NEWS SERVICES

11:37 a.m. July 16, 2008

RIVERSIDE – Home sales in Riverside County rose 11.8 percent in June, compared with the same month a year ago, but prices fell by 31.3 percent, a real estate information service reported Wednesday.

A total of 3,757 homes sold in Riverside County last month, compared to 3,359 in June 2007, according to DataQuick Information Systems.

The median price of a home in Riverside County was $275,000, down from $400,000 in the same month a year ago, according to DataQuick.

According to DataQuick, home sales in Southern California were at the slowest pace in more than two decades last month as potential buyers and sellers held off or struggled to get mortgage financing.

“The mortgage market turbulence is putting quite a bit of activity on hold,” said DataQuick President John Walsh.

“Policy decisions about underwriting don't really mean much if there's little or no money to lend,” he said. “Even some very well-qualified households aren't getting mortgages these days, although this could all change fast if liquidity comes back.”

A total of 17,424 new and resale houses and condominiums sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in June. That's up 3 percent from the 16,917 homes that sold the previous month, but down 13.6 percent from the 20,166 sold in June 2007, according to DataQuick.

The median price paid for a Southland home was $355,000 last month, down 4.1 percent from $370,000 in May and down 29.3 percent from $502,000 in June of last year, according DataQuick.


 Sponsored Links







Quicklinks
Restaurants Bars
Hotels Autos
Shopping Health
Eldercare Singles
Business Listings
Free Newsletters


Guides
Vegas Spas/Salon
Travel Weddings
Wine Old Town
Baja Catering
Casino Home Imp.
Golf SD North
Gaslamp


© Copyright 1995-2008 Union-Tribune Publishing Co. • A Copley Newspaper Site