Under coronavirus lockdown, Southern California home sales fell 45% in May from a year earlier, but the median price rose 2.7%, data firm says.
Cities and states are pressing ahead with plans to do so. But has anything changed about the coronavirus that makes it safer to go out now?In Los Angeles County, sales fell 49.5% from a year earlier, while the median sales price rose 1.6% to $620,000.In Riverside County, sales fell 43.7%, while prices rose 6.5% to $415,000.In San Diego County, sales fell 40.7%, while prices rose 3.5% to $590,000.
The direction of the overall economy probably will play a big role in whether home prices soften further. Businesses are reopening and more people are venturing outside as governments liftData covering a later period than that released by DQNews indicates reopening can be seen in the housing market as well, although, as with the general economy,According to online brokerage Redfin, the number of homes in L.A.
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