Home Sales Mark Best February in 10 Years

Home sales in Southern California continued climbing last month, resulting in the strongest February since 1989. Selling prices also rose, although at a slower pace than last summer, Acxiom/DataQuick real estate information service reported. A total of 18,782 new and resale houses and condominiums were sold in Los Angeles, Riverside, Ventura, San Diego, Orange and San Bernardino counties last month. That’s up 11.4% from a year ago and represents the strongest sales count for any February since 1989, when 21,963 homes were sold. February sales also made an atypical 10.4% jump from the previous month; sales normally decline from January to February. The median price paid for a Southland home was $180,000 last month, up 2.9% from a year earlier. The number of homes sold in Los Angeles County rose only 1.1% over a year ago, and Orange County posted a 2.1% increase. Sales grew 30.2% in Riverside County and jumped 26.3% in Ventura County.