The median price paid for all Southern California homes sold in December 2017 was $507,000, a new all-time high that surpasses the previous peak of $505,000.
Absentee buyers (investors and second home purchasers) bought 22.9% of Southland homes sold in December 2017. The peak was 32.2% in February 2013. The monthly average for absentee buyers since 2000 is about 18.0%.
The number of homes that sold for $500,000 or more in December 2017 accounted for 51.3% of all sales. That is up from 45.4% in December 2016.
Foreclosure re-sales (properties foreclosed on in the prior 12 months) represented 1.4% of the Southland re-sale market in December 2017. That was down from 2.9% in December 2016. Foreclosure resales peaked at 56.7% in February 2009.
Federal Housing Administration (FHA) Loans made up 16.1% of all home purchase loans in Southern California in December 2017. Riverside and San Bernardino counties experienced the region’s highest FHA share in December at 25.1% and 26.9% respectively.
Just Released from DQNews January 30th, 2018
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This entry was posted in Buying and Selling Homes, California Real Estate, Loan and Finance, Real Estate Data and tagged California, Orange County, Real Estate Data, Riverside County, San Bernardino County, San Diego County.