Translate this page

Home sales in Riverside County jump by 10.2 percent in November


Wednesday, December 12th, 2012
Issue 50, Volume 16.


RIVERSIDE - The number of homes sold in Riverside County jumped by 10.2 percent in November, compared to the same month a year ago, while prices rose by 17.4 percent, a real estate information service announced today.

A total of 3,274 homes changed hands in Riverside County last month, compared to 2,971 in November 2011, according to DataQuick. The median price of a home in the county in November was $229,000, up from $195,000 in November 2011.

A total of 19,285 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in November, according to DataQuick. Advertisement
Advertisement for Children's Lighthouse
[ Children's Lighthouse ]
That was down 8.5 percent from 21,075 in October, and up 14.2 percent from 16,884 in November 2011.

The median price for a Southern California home was $321,000 in November, up 1.9 percent from $315,000 in October and up 16.7 percent from $275,000 in November 2011.

"The government's offered people an amazing gift in the form of extraordinarily low mortgage rates," DataQuick President John Walsh said. "But that's not the only thing fueling these sales gains. Investor activity and cash purchases remain unusually high, and more buyers feel confident about their jobs, the economy and the likelihood housing prices have bottomed and are likely to rise."


 

2 comments

Comment Profile ImagePreston
Comment #1 | Thursday, Dec 13, 2012 at 8:03 am
It will probably be 10 years before people realize that purchasing a home is today was the bargain of a life time.
Comment Profile ImageMom of lots
Comment #2 | Thursday, Dec 13, 2012 at 3:51 pm
It is NOT because people feel more confident in their jobs or the economy that Riverside real estate is doing so well. It's because investors are taking their money out of a very unstable economy (stocks, mutual funds, etc.) and throwing their cash into income producing rentals.

Article Comments are contributed by our readers, and do not necessarily reflect the views of The Valley News staff. The name listed as the author for comments cannot be verified; Comment authors are not guaranteed to be who they claim they are.

 

Add your Comment


Name

Images, Formatting, or HTML is not allowed : plain text only. You may post up to 5 website addresses within your comment.




Disclaimer

The Valley News has tightened its' policy regarding comments.
While we invite you to contribute your opinions and thoughts, we request that you refrain from using vulgar or obscene words and post only comments that directly pertain to the specific topic of the story or article.
Comments that are derogatory in nature have a high likelihood for editing or non-approval if they carry the possibility of being libelous.
The comment system is not intended as a forum for individuals or groups to air personal grievances against other individuals or groups.
Please, no advertising or trolling.
In posting a comment for consideration, users understand that their posts may be edited as necessary to meet system parameters, or the post may not be approved at all. By submitting a comment, you agree to all the rules and guidelines described here.
Most comments are approved or disregarded within one business day.

RSS FeedFacebookTwitter



Advertisement for Crown Hill Pizza





Subscribe


Most Commented


Reach Local Customers



The Valley News The Valley News
760-723-7319 - 1588 S. Mission Rd. Suite 200, Fallbrook CA 92028
All contents copyright ©2014
About Us
Earthquake Information
Business Listings
Contact Us
Letter to the Editor
Report a website error
Sitemap
Online Digital Edition
RSS Feeds
Login