Homes Sales Rise in Valley
Buoyed by low interest rates and favorable prices, sales of existing single-family homes in the San Fernando Valley rose 23.6% during July compared to a year ago, the Assn. of Realtors reported.
The 828 single-family escrows closed last month represented the best monthly total so far this year and the highest figure since April, 1991, when 865 escrows closed, association statistics indicated.
Resale prices continued to head down, with the median price falling 9.7% to $195,000 compared to the $216,000 median reported in 1992.
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