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Article: Orange County, Calif., Home Prices Still Hot.
- Article from:
- Orange County Register (Santa Ana, CA)
- Article date:
- February 18, 2004
CopyrightCOPYRIGHT 2004 The Orange County Register. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Hang Nguyen
Feb. 18--Home prices in Orange County remain hot because of the meager and shrinking supply of available homes.
The January median price for homes and condos was $450,000, up 22 percent from a year ago, according to numbers released Tuesday by market tracker DataQuick. That price was about 4 percent shy of the record set in December.
The median for resales of detached homes, the most common type of home in Orange County, reached a new record of $500,000.
That's because demand exceeds supply: almost 13 percent fewer homes -- 3,052 residences -- sold in January than a year ago.
"People are bidding more in ...