Home sales and prices drop again in April
By
PE Business
on May 12, 2011 11:35 AM
Home sales and prices dropped again in April at a time when the housing market typically gains steam, according to San Diego-based real estate tracking firm DataQuick.
The 18,344 homes sold in Southern California last month, was down 5.5 percent from March and 9.2 percent lower than a year ago. The median price paid was down a slight 1.8 percent from a year ago when homes were sold for $285,000.
In Riverside County 3,470 homes were sold last year, a 13.7 percent drop compared to the same month a year prior, for a median price of $190,000 – down $10,000 compared to a year ago.
The number of homes sold in San Bernardino County – 2,403 — dropped 12.4 percent. The median price dropped 1.7 percent to $147,500.
“The market’s in a rut at a time it would normally be building momentum,” said DataQuick president John Walsh in a statement. Job growth or price reductions could help it along, he added. “At the moment, the latter appears to be the more likely short-term catalyst,” he said.
– Kimberly Pierceall
kpierceall@PE.com