More Southern California property was sold for...

More Southern California property was sold for more money in August than in any month since December, 1986, according to TRW Real Estate Market Information. Led by an increase in commercial activity, $10.4 billion was spent to buy property in Los Angeles, Orange, San Diego, Riverside and San Bernardino counties last month. That was 20.1% more than the month before, and 70.4% more than August of last year. A total of 62,869 properties changed hands in August, 11.3% more than the month before, 34.9% more than in August, 1987. Home-buying activity, including condominiums and single-family residences, also remained strong, up 8.7% from July to 33,366 units.