San Diego County Home Sales Increase But Remain 'Far Below Average'

Home sales in San Diego County rose last month while median prices fell, according to data released Wednesday by DataQuick.

A total of 3,249 new and existing homes and condominiums were sold countywide in August, compared to 3,041 in July—a 7 percent increase. The median home price was $320,000—down from $325,000 in July.

Last year, home sales in San Diego County were up 4.4 percent, and prices were down roughly 5 percent, DataQuick reported.

"Scratch beneath the surface, and there's not a lot to cheer about this month,'' said DataQuick President John Walsh. "Home sales were up from a year earlier but remained far below average. Many would-be buyers can't find financing, and others who want to make a move now are stuck because they owe more than their homes are worth. Financial markets are increasingly choppy, the political outlook is incredibly murky and consumer confidence remains poor. Needless to say, it's not an environment ripe for stabilizing the housing market.''

A total 19,654 new and existing homes and condos were sold throughout Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura counties—8.6 percent more than in July and 6 percent above the year-ago level, according to DataQuick.

Figures showed that median homes prices in Southern California have declined for the last two months and have been down year-over-year for the last six months.

City News Service contributed to this report.