January Home Sale Stats

The Southland Regional Association of REALTORS® reported slower homes sales in the San Fernando Valley during January. The Association attributes the decrease to the holidays and the end of year. 569 single-family homes closed escrow in Jnnuary, a total that was down 2.2 percent from a year ago and, following seasonal patterns, 29.4 percent below the December tally.

In addition, condominium sales last month were 8.3 percent below a year ago and 29.0 percent lower than the December total.

Association president Winnie Davis stated, “Typically, January is the slowest month of every year as closed sales are, for the most part, escrows opened from mid-November through December, the holiday season.

“The decrease in sales from last year is consistent with the trend we saw throughout most of 2006,” Davis said.