October 12, 2009
Summer Sizzle Fades for County Home Market
Los Angeles Business Journal
By Charles Proctor
... Condominium sales numbered 1,950 in September. When adjusted for the number of selling days, that's a drop of 13 percent from August. The median sales price in September was $310,000, about $10,000 less than August's median price.
The drop suggests the condo market could have a tougher time bouncing back. One cause could be the higher interest rates for condo loans, said Tracey Seslen, an assistant professor of clinical finance and business economics at the USC Marshall School of Business...