SD County Home Sales Drop by 11.4 Percent in June

Home sales in San Diego County dropped 11.4 percent in June compared to the same month a year ago, a real estate information service announced Tuesday.

A total of 3,444 homes changed hands locally last month, compared to 3,885 in June 2010, according to La Jolla-based MDA DataQuick. Prices also dipped by 1.6 percent as the median price of a home in San Diego County in June was $330,000, down from $335,500 in June 2010.

A total of 20,532 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in June, according to DataQuick. That was up 11.6 percent from 18,394 in May but down 14 percent from 23,871 in June 2010.

"The housing market remains dysfunctional and lopsided, just somewhat less so than it was a few months or a year ago,'' DataQuick President John Walsh said. "The market mix indicates that a lot of potential buyers are either stuck, for lack of equity, or spooked and are waiting things out.

"Another large, lingering problem is the fussy mortgage market. Qualifying for a mortgage remains difficult for many, and the use of adjustable-rate and 'jumbo' home purchase loans remains far below the historical norm.''

The median price for a Southern California home was $285,000 last month, up 1.8 percent from $280,000 in May but down 5 percent from $300,000 in June 2010, according to DataQuick. The median price was the highest it has been since December, when the median was $290,000.

City News Service contributed to this report.