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Southern California home sales fall in February

Posted: March 12, 2014 11:47 a.m.
Updated: March 12, 2014 11:47 a.m.

SAN DIEGO (AP) — A research firm says Southern California homes sales posted a fifth straight annual decline in February as tight inventories kept buyers on the sidelines.

DataQuick said Wednesday that slightly more than 14,000 new and existing houses and condominiums sold in the six-county region, down 3 percent from January and down 12 percent from a year earlier. It is the lowest February sales total in six years.

The median sales price was $383,000, up 1 percent from January and up 20 percent from a year earlier. It's the 23rd straight month of annual price increases.

Prices have changed little since the middle of last year. The lowest-priced homes are showing the biggest gains.


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