Investors Keep Southern California Housing Sales Strong
SAN DIEGO (AP) -- Southern California home sales continued strong last month as investors snapped up mid- to high-end homes but a market research firm says it's unclear if the rebound will continue through the year.
DataQuick says Wednesday that the region recorded its highest February home sales in six years. Nearly 16,000 homes were sold in Los Angeles and five other counties. That was down slightly from January but up 1 percent from February 2012.
The median price was $320,000, down fractionally from January but up nearly 21 percent from February of last year.
DataQuick President John Walsh says many of the sales that closed in January and February were to investors who went shopping during the holiday season last year, so they don't really indicate how the market will do this year.