An increase in Southern California home sales may mean that many buyers could be moving into a new home for the holidays.
DataQuick reports that the number of homes sold rose slightly from last month, up to 16,884 new and resale houses and condos sold in some of Southern California's most desirable counties including Los Angeles, San Diego and Ventura. This is a 0.3 percent increase from 16,829 in October and up 4.2 percent from November last year.
The news comes as a sort of surprise as housing market activity typically dies down in the winter months. The source reports that on average, sales have fallen 8.4 percent between October and November since 1988, but sales have increased for the last four months.
"Lower prices and amazingly low mortgage rates tempted those with the confidence to buy and the ability to qualify for a loan, or to pay cash," said John Walsh, president of DataQuick.