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|October 1, 2014|
Home sales dip as tax credits expire
INLAND EMPIRE – Riverside and San Bernardino counties led Southern California’s decline in home sales last month.
Homes actually sold across the Inland Empire were down more than 26 percent as compared to July of last year.
Andrew LePage at MDA DataQuick says the market lost most of its recent boost attributed to federal home buyer tax credits which expired. And, that’s not all.
“The Inland Empire doesn’t have enough deeply discounted foreclosures on the market anymore. That was the hot ticket a year ago.”
The shaky economic recovery and continued uncertainty about jobs is adding to the downturn.
Sales prices also dipped slightly, but averaged nearly 11 percent higher in San Bernardino County than a year ago. (INT)
Story Date: August 22, 2010