Home Sales In Southern California

Home sales in Los Angeles County jumped by 12.7 percent in November, compared to the same month a year ago, while prices dropped 31.9 percent, a real estate information service reported today. A total of 5,037 homes sold in November, up from 4,468 for November 2007, while the median price of a home in Los Angeles County last month was $340,000, down from $499,000 in the same month a year ago. In Orange County, the median home price was $400,000, down 31.4 percent from the November 2007 median of $582,750, according to La Jolla-based firm DataQuick. 2,177 homes were sold in the county last month, up 38.9 percent from the 1,567 home sales in November 2007. Over all home sales in the six-county Southern California region in November jumped by 26.9 percent over the same month last year. Larry Mantle talks with DataQuick's analyst John Karevoll.