Southern California home sales slid in January, according to San Diego-based firm DataQuick.
There were 14,471 homes sold across Southern California in January, a drop of 21 percent from December, and a decline of 10 percent from January 2013, the firm said, blaming the weakness on fewer homes for sale.
There has been a lower number of homes available for sale because many owners are still under water and there are fewer distressed houses on the market. For example, homes selling under $200,000 declined almost 47 percent, DataQuick analyst Andrew LePage told KPCC.
"It's not because there's not a lot of demand in the lower-price range, it's because of the supply constraints," LePage said.
On the other hand, sales of high-priced homes rose in January. LePage said homes selling for more than $500,000 increased 26 percent in January, while homes selling for more than $800,000 increased 37 percent compared to a year ago.
The median price of homes sold in January was $380,000, down 3.8 percent from December, but up 18 percent from last year, DataQuick said. The January median was the lowest since May 2013, DataQuick said.
Source for the data below: DataQuick
|All homes||Jan-13||Jan-14||% change||Jan-13||Jan-14||% change|
|Los Angeles County||5,308||4,913||-7.40%||$340,000||$410,000||20.60%|
|San Bernardino County||2,137||1,910||-10.60%||$177,500||$220,000||23.90%|
|San Diego County||2,717||2,338||-13.90%||$350,000||$405,000||15.70%|
|Southern California total||16,058||14,471||-9.90%||$321,000||$380,000||18.40%|