SAN DIEGO (AP) - A research firm says Southern California posted its strongest home sales for a January in six years amid heavy interest from investors.
DataQuick said Wednesday that more than 16,000 single-family houses and condominiums sold in the six-county region, up 11 percent from a year earlier.
The median sales price was $321,000, down slightly from December but up nearly 24 percent from $260,000 a year earlier.
Pricier, coastal regions led by Orange County posted the strongest sales gains. Sales above $800,000 nearly doubled and sales between $300,000 and $800,000 increased by half, while sales below $300,000 fell.
DataQuick says absentee buyers - mostly investors and second-home purchasers - bought nearly one of every three homes sold. Buyers paying cash bought more than one of every three homes sold.
Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.