Foreclosures bump up Inland Empire home sales

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There are no surprises in today’s latest report on Southland home sales by DataQuick Information Systems. The spring home-buying season was a dud.

The median Southern California home price plummeted 29.3% to $355,000 from a year ago, when the median price was at a near peak of $502,000. (The SoCal record price stands at $505,000 reached in the spring of 2007.)

Sales, meanwhile, fell 13.6% to 17,424 from last June.

But a couple of stats today stand out: In Riverside and San Bernardino counties, sales increased from a year ago, thanks to the flood of foreclosures that are seemingly being snapped up by bargain hunters. Of the 3,757 homes sold in Riverside County last month, two-thirds were foreclosure resales.

Times staff writer Peter Hong has more on the latest Southern California real estate market trends.

-- Posted by Times staff writer Annette Haddad

Comments? Questions? Email: annette.haddad@latimes.com