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Home Sales Drop Slightly In Riverside County

Homes sales in Riverside County dropped by 1 percent in June, compared to the same month a year ago, while prices increased 13.5 percent during the same period, a real estate information service reported today.

A total of 4,645 homes changed hands locally last month, compared to 4,694 in June 2009, according to La Jolla-based MDA DataQuick. The median price of a home in Riverside County in June was $210,000, compared to $185,000 in the same month a year ago.

A total of 23,871 new and resale houses and condos sold in the six- county Southern California region — Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties — in June, according to DataQuick. That was up 7.2 percent from 22,270 in May, and up 2.6 percent from 23,262 in June 2009.

June sales throughout Southern California were the highest since July 2009.

“The market was wildly out of kilter a year ago, now it’s just somewhat out of kilter,” said John Walsh, MDA DataQuick president. “We’re still seeing lots of bargain hunting, and we’re not seeing much discretionary buying. The single-biggest issue is still mortgage financing. Rates may be at record lows, but that doesn’t mean much if the lender won’t qualify you.”

The median price for a Southern California home was $300,000 last month, down 1.6 percent from $305,000 in May, and up 13.2 percent from $265,000 in June 2009, according to DataQuick.

KESQ News Team

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