Building permits down across U.S., reports say
Home sales and prices rise in July
By Roger Showley
Union-Tribune Staff Writer
Southern California housing prices and sales continued to rise in July, even as new construction and building permits fell across the country, new reports showed yesterday.
MDA DataQuick reported the six-county regional median sales price at $268,000, up $3,000 from June, in the third consecutive month-to-month gain. It was still 23 percent below the year-ago level of $348,000 and 46.9 percent below the peak of $505,000 set in mid-2007.
There were 24,104 sales, up from 23,262 in June and 18.6 percent higher than in July 2008. The sales pace was roughly halfway between the low of 16,225 in July 1995 and peak of 38,996 in 2003 over the 21 years the firm has kept track.