Report: Socal Home Sales up 5% year-over-year

June 17, 2015 10:00 pm

Note: This is the data that used to be released by DataQuick (now part of CoreLogic).

From the LA Daily : Southern California home sales gain ground

The region’s housing market gained some momentum in May, with sales increasing 5 percent from a year ago, a market tracker said Wednesday.

It’s the fourth consecutive year-over-year sales gain, said Irvine-based CoreLogic. Prior to this uptick, sales had fallen from the year-ago level for 11 of the past 12 months.

… But sales last month were 14 percent below the May average of 25,297, dating back to 1988 when record keeping began.

Last month foreclosure sales accounted for 4 percent share compared with a 5 percent share a year ago, CoreLogic said. Short-sales, transactions in which the purchase price was less that what was owed on the mortgage, accounted for a 4 percent share versus 5 percent a year ago.

With distressed sales still declining (down to 8% from 10% in May 2015), non-distressed sales are up about 7% YoY. However inventory is still low, especially in the more affordable areas.

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