Home sales still slow

June's numbers from Dataquick repeat a pattern we've seen for some time: Sales are up from the previous month, but still down sharply from a year earlier. And prices keep falling. Only 5,678 properties were sold in L.A. County last month, down 25.1 percent from June 2007. The median price was $415,000, down almost 24 percent from a year earlier. There are some important regional distinctions at play in the new report. Riverside County had an 11.8 percent increase in sales from a year ago, while the median price plunged 31.3 percent, to $275,000. That suggests a lot of foreclosure activity going on the Inland Empire. But in more established residential areas, there's not that level of desperation. In fact, a number of communities are still showing more-than-decent activity. Of course, now the problem is getting a loan. "The mortgage market turbulence is putting quite a bit of activity on hold," said John Walsh, DataQuick president. "Even some very well-qualified households aren't getting mortgages these days, although this could all change fast if liquidity comes back." Jumbo loans (those above $417,000) accounted for just 16.3 percent of all Socal sales in June, compared with about 40 percent before the credit crunch really hit last summer.

JUNE HOME SALES (% change from June 2007)
Los Angeles 5,678 -25.1%
Orange 1,930 -26.9%
Riverside 3,757 11.8%
San Bernardino 2,215 1.1%
San Diego 3,077 -12.3%
Ventura 767 -13.4%

JUNE MEDIAN PRICE (% change from June 2007)

Los Angeles $415,000 -23.9%
Orange $495,000 -23.3%
Riverside $275,000 -31.3%
San Bernardino $240,000 -34.2%
San Diego $370,000 -25.3%
Ventura $420,000 -27.8%

Source: DataQuick Information Systems, DQNews.com