Home prices and sales in San Diego County were up in June from May but down from one year ago, Tuesday’s DataQuick figures show.
Homes in San Marcos. — John Gastaldo / Union-Tribune staff
Here’s a breakdown of the major housing categories, based on the real-estate tracker’s monthly report:
ALL HOMES: The median price in June was $330,000, up 1.7 percent from May but down 1.6 percent from a year ago. It’s the 25th straight month the median price for all home types has been in the $300,000 to $340,000 range. The county peaked at $517,500 in Nov. 2005. June sales increased 11.6 percent from May but were down 11.4 percent from a year ago.
RESALE HOMES: This makes up the bulk of monthly sales. Prices slid 1.1 percent from May to $365,000 and fell 3.9 percent from the same time last year. Month-over-month, sales increased 12.2 percent to 2,196 but fell 4.6 percent year-over-year.
RESALE CONDOS: June’s median price was $220,000, up 4.8 percent from May and up 0.3 percent from one year ago. Sales increased to 971, or 5.3 percent from May, but were down 16.5 percent year-over-year.
NEW HOMES: This category, the smallest slice of sales, showed the highest month-over-month increases in sales and prices among the categories. The median price in June was $502,000, up 24.2 percent from May and up 16.5 percent from one year ago. There were 277 new-home sales, increasing 33.8 percent from May but down 34.2 percent from June of last year.
SOUTHERN CALIFORNIA: More than 20,532 home were sold in San Diego, Los Angeles, Riverside, Ventura, San Bernardino and Orange counties in June, up 11.6 percent from May but down 14 percent June 2010. The month-over-month increase is more than usual for May-to-June. DataQuick officials said on average, sales between those months is have gone up 6.2 percent since 1988, when the company began to track housing data.
June’s median price for all six counties was $285,000, up 1.8 percent from May but down 5 percent from one year ago. “Today’s median is also suppressed somewhat by abnormally low sales of newly built homes, which typically sell for more than resale homes,” this month’s DataQuick report said.
The housing market remains dysfunctional and lopsided, just somewhat less so than it was a few months or a year ago. The market mix indicates that a lot of potential buyers are either stuck, for lack of equity, or spooked and are waiting things out. Another large, lingering problem is the fussy mortgage market. Qualifying for a mortgage remains difficult for many, and the use of adjustable-rate and “jumbo” home purchase loans remains far below the historical norm.
–John Walsh, DataQuick president.
DataQuick: Prices up in 38 of 92 ZIP codes
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