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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (3844)	5/15/2001 12:42:38 PM
From: Challo Jeregy	Read Replies (2) \| Respond to of 33421

L.A., Orange County Home Prices Up 10% Housing: Even though the number of sales falls in both regions in April, the medians rise above year-ago levels. By DARYL STRICKLAND, Times Staff Writer Boosted by entry-level and move-up buyers, home prices last month rose more than 10% in Orange and Los Angeles counties as the bellwether market for higher-end housing started to soften a bit. Analysts have been watching for signs of weakness in a surging home market that has defied a national economy soured by layoffs, poor corporate financial results and lagging stock prices. But housing overall has remained largely oblivious to the economic slowdown. The Southern California market pumped prices for typical homes to $290,000 in Orange County and $215,000 in Los Angeles County, according to a report Monday from research firm DataQuick Information Systems Inc. in La Jolla. Both prices were slightly off the record highs of March, but compared with the previous April, they were 10.7% higher in Orange County and 10.3% higher in Los Angeles County. However, the number of homes sold last month fell 7% in Orange County to 3,740 from a year earlier, according to DataQuick. In Los Angeles County, sales edged down 3% to 8,921. Among more expensive homes, those selling for roughly $500,000 to $800,000, sales dropped even more, but the overall shortage of homes and low interest rates have kept prices rising and the market strong, analysts said. more . . . latimes.com