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The number of homes sold inched up in September in San Diego County and across Southern California, an increase analysts at MDA DataQuick partly attributed to “late-closing summer transactions, low mortgage rates and buyers hoping to take advantage of a soon-to-expire tax credit.”
September’s 3,454 home sales in San Diego County marked a 2.6 percent increase from September 2008, and a 4.5 percent increase from August.
All property types experienced a year-over-year sales increase:
- Resale houses: 2,091 sales in September, up 0.4 percent year-over-year.
- Resale condos: 1,032 sales in September, up 2 percent year-over-year.
- New homes: 331 sales in September, up 22.1 percent year-over-year.
The share of purchases in September financed with an FHA loan was 28.8 percent, up from August’s 28.2 percent rate I included in my post Friday about some FHA-related issues.
Foreclosures were 35.3 of the resales in September, up from a revised 34.5 percent in August but down sharply from 47.2 percent in September 2008.
The foreclosure sale percentage was the second-lowest, behind August 2009, for any month since April 2008, when foreclosure resales were 35.1 percent of resales, according to MDA DataQuick.