O.C. Housing Sales Jump to a 9-Year High

After an October dip linked to Wall Street’s woes and an interest rate spike, Orange County’s housing market rebounded sharply in November as sales for the month hit their highest level in nine years. Prices followed suit, climbing 9% from a year ago to a median $229,000, Acxiom/DataQuick Information Services reported. “Prices are still going up, and I don’t think that there’s much that’s going to stop it,” said Acxiom statistician John Karevoll. “The economy is too strong and the interest rates are too low.” The number of homes sold jumped 13% to 3,578, the most homes sold in November since 1989. The median price--the price at which half the homes sold for more, half for less--would have been higher except for a sharp increase in condominium sales, Karevoll said.