Southern California Home Sales Plunge 17%, Prices Increase Modestly in January

An open house in Manhattan Beach. (Credit: Jay L. Clendenin / Los Angeles Times)

An open house in Manhattan Beach. (Credit: Jay L. Clendenin / Los Angeles Times)

The sluggish Southern California housing market took another hit in January, with sales plunging 17% from a year earlier, according to a report released Wednesday.

The six-county region’s median price rose only modestly, climbing 2% from January 2018 to $505,000, according to real estate data firm CoreLogic.

Besides the prior month’s 1% gain, January’s year-over-year increase in the median — the point at which half the homes sold for more and half for less — was the smallest since prices began their steady upward climb in 2012.

The median is now $32,000 below its all-time high reached in June and sales, clocking in at 12,665 last month, haven’t been this low in January since 2008.

Read the full story on LATimes.com

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.