Home sales jumped sharply in September across Southern California from record lows of a year ago, as foreclosure sales continue to dominate the market.
More than 20,000 homes and condominiums closed escrow last month, including 7,382 in Riverside and San Bernardino counties, DataQuick Information Systems reported today. More than half the sales in the six-county region were the result of foreclosures.
Median prices fell to $237,500 in Riverside County and $205,000 in San Bernardino County. That's roughly a $10,000 decline in the median price in both counties since August. Prices are down about 40 percent since the peak of the housing price bubble about two years ago.
A DataQuick analyst said in a statement that declining prices in the Inland region has helped the affordability levels and spurred sales.
More than 20,000 homes and condominiums closed escrow last month, including 7,382 in Riverside and San Bernardino counties, DataQuick Information Systems reported today. More than half the sales in the six-county region were the result of foreclosures.
Median prices fell to $237,500 in Riverside County and $205,000 in San Bernardino County. That's roughly a $10,000 decline in the median price in both counties since August. Prices are down about 40 percent since the peak of the housing price bubble about two years ago.
A DataQuick analyst said in a statement that declining prices in the Inland region has helped the affordability levels and spurred sales.
