Home Sales Still Down in Southland
There are no signs as yet of a recovery in the Southern California housing market, as demand and prices continue to fall, according to TRW REDI Property Data. Statistics released by TRW REDI show that in January, average prices fell about 2% and purchases fell by about 11%, compared to the same period last year.
The report noted that price declines were sharpest in the higher-priced coastal areas, while in the Inland Empire prices fell marginally.
For the record:
12:00 a.m. March 7, 1993 For the Record
Los Angeles Times Sunday March 7, 1993 Home Edition Real Estate Part K Page 11 Column 6 Real Estate Desk 1 inches; 32 words Type of Material: Correction
Sorry, wrong number--A chart in the Feb. 21 Real Estate section incorrectly reported the percentage change in the number of homes sold in Ventura County in January, 1993, as compared to January, 1992. The number increased by 5.6%.
However, TRW REDI’s market research analyst, Nima Nattagh, cautioned against placing too much emphasis on monthly trends. “Over the course of the next few months we will be in a better position to see whether the market has turned around or if we are still continuing on a downward path,” Nattagh said.
Average Prices All Homes Jan 1993 Jan 1992 Percent Change Los Angeles 233,097 243,943 -4.4 Orange 243,892 252,969 -3.6 Riverside 149,429 151,249 -1.2 San Bernardino 135,341 135,863 -0.4 Ventura 223,161 234,328 -4.7 San Diego 205,850 205,429 -0.2 Southern California 210,290 215,229 -2.3
Number of All Homes Sold Jan 1993 Jan 1992 Percent Change Los Angeles 4,600 5,156 -10.8 Orange 1,714 1,846 -7.1 Riverside 1,187 1,422 -16.5 San Bernardino 1,221 1,572 -22.3 Ventura 486 460 -5.6 San Diego 1,551 1,663 -6.7 Southern California 10,759 12,119 -11.2
