Median Home Price Climbs on Flat Sales

Southern California home prices continued to rise in January, while the sales pace remained flat, a real estate research firm reported. The median price paid for a Southland home rose to $195,000 in January, up 8.9% from $179,000 for the same time a year ago. San Diego County led the region with a 12.8% increase, according to John Karevoll, an analyst for Acxiom/Dataquick of La Jolla. Ventura County prices rose 11.4%; San Bernardino, 9.8%; Orange County, 8.7%; Riverside County, 7.1%, and Los Angeles County, 6.9%. Meanwhile, January’s sale pace remained flat, with a total of 16,650 new and resale houses and condos sold in Southern California last month, down 2.2% from 17,017 for January 1999. The decline was the first since July, when sales were down 1.7%.