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Southern California home sales rise in January

Posted: February 15, 2012 11:30 a.m.
Updated: February 15, 2012 11:30 a.m.

SAN DIEGO (AP) - A research firm reports home sales rose slightly in Southern California last month as falling prices continued to attract bargain-hunters.

DataQuick said Wednesday that more than 14,500 homes sold in a six-county region in January, up 0.4 percent from the same period last year.

The median price for new and existing houses and condos fell to $260,000, down nearly 4 percent from January 2011. It was the lowest price since May 2009.

The San Diego-based research firm says more than half of existing home sales were foreclosed on in the last year or short sales - transactions in which the price is less than what is owed on the property.

Copyright 2012 The Associated Press.




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