Sluggish home sales perked up just a little in May, the traditional start of the busy summer season, and prices held steady with the median settling at $615,000, according to data compiled by a trade group.
Single-family home sales climbed a scant 2.9 percent from April, but came in 23.5 percent below May 2006, the Southland Regional Association of Realtors reported Thursday according to the Daily News.
A total of 179 single-family homes and 90 condominiums closed escrow during last month. Condo sales dropped 26.8 percent from a year ago, but were up 18.4 percent from the previous month. The condo median price of $355,000 was down from the record $397,000 in January 2006.
Larry Gasinski, president of the association’s Santa Clarita Valley Division, said that while prices are below the records, the slump doesn’t seem to be driving them down significantly.
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