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California Home Sales For January Highest Since 2013

  

A real estate research firm says Sacramento County home sales for January were the highest since 2013.

CoreLogic says 1,378 homes sold last month. Andrew LePage with CoreLogic says that was down from 2,186 in December.

"However, January sales were still about nine percent higher than a year ago," says LePage. "And it was the strongest January for Sacramento County home sales in three years."

He says home closings traditionally drop off in January and February, because people don't like to shop for real estate over the holidays.

January's median sale price was $270,000, up 10 percent from a year ago.

For Northern California, CoreLogic says buyers snapped up more than 27,500 houses and condos in January as the median price hit $400,000.

The number of homes sold was the highest for a January since 2013, but below the average of roughly 33,000 homes sold in the month since CoreLogic started tracking sales in 1988.

LePage says the sluggish activity could be due to lack of inventory and moderately tight credit restrictions.

The median price for a San Francisco Bay Area home was $625,500, up 15 percent from January 2015.

 

 real estatehome sales

Steve Milne

Morning Edition Anchor & Reporter

Steve is the voice of Capital Public Radio News as anchor of Morning Edition and Insight. He covers stories on a wide range of topics including: business, education, real estate, agriculture and music. Steve also produced stories for CapRadio.org.   Read Full Bio