Magazine article American Banker

Southern California and South Florida Home Sales Plunge

Magazine article American Banker

Southern California and South Florida Home Sales Plunge

Article excerpt

Home sales have dropped sharply in two key areas of the country Southern California and south Florida - according to reports from TRW Redi Property Data, a real estate information company.

Nationwide, August sales improved slightly, the report said, but the year is still expected to end with a decline from the 1994 level. TRW Redi puts the figure at about 12%.

"The current market downturn is not affecting sales of lower- priced homes," the TRW Redi report said. "Sales of homes priced at less than $100,000 were actually up by 5% in the first eight months." By contrast, homes of more than $400,000 showed a drop of 23.6% and those between $250,000 and $325,000 dropped 25.7%.

Six southern counties in California - Los Angeles, Orange, Riverside, San Bernadino, San Diego, and Ventura - showed a collective decline of 16% in the number of new and existing homes sold in the first eight months this year from the year-earlier level. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.