San Fernando Valley home sales slump drags on

The housing sales slump in the San Fernando Valley dragged on into October while prices and inventory continued increasing from year-ago levels, according to two market trackers. The Van Nuys-based Southland Regional Association of Realtors said that home sales last month fell 5 percent from a year ago to 494 properties and were down from 491 in September. The median house price rose 12 percent from a year ago to $521,000 but it fell $14,000 from September. The San Fernando Valley Economic Research Center at California State University, Northridge said sales fell 11 percent from a year earlier to 1,301 but increased from 1,247 in September. The median price rose 7 percent from a year ago to $535,000 but fell from $550,000 in September.

from Tatiana Derovanessian Real Estate http://www.dailynews.com/business/20141128/san-fernando-valley-home-sales-slump-drags-on