California Home Sales Hit 12-Year-Low, But San Diego Stabilizes

By Erik Anderson / Environment Reporter, KPBS Public Broadcasting

Published May 15, 2007 at 12:50 PM PDT

This story was published more than 16 years ago.

Southern California home sales hit a 12-year low last month, but sales in San Diego did not decline as much. Home sales here were off 13 percent from a year ago. However, home sales are down nearly 30

Southern California home sales hit a 12-year low last month, but sales in San Diego did not decline as much. Home sales here were off 13 percent from a year ago. However, home sales are down nearly 30 percent across the region.

John Karevoll works for the real estate tracking firm Dataquick. He says sales and home prices appear to be stabilizing in San Diego County. Karevoll says the average home price in the county is $490,000, down three percent from last year.

Become a KPBS sponsor

Karevoll : The peak in San Diego, which occurred first for Southern California, we're off of the peak by about as much as we probably will be. If we look at resale houses, for example, prices there in San Diego now have been pretty stable the past year.

Riverside and San Bernardino counties showed the biggest declines in sales from a year ago. Both counties saw nearly 50 percent drops in the number of sales from April 2006 to April 2007.