H
ome sales in Southern California saw a 10 percent increase in October, reaching 14,662 deals across six counties. This growth comes despite prices being at near-record highs, with the median price of a Southland home rising to $775,000, a 5 percent increase from last year. The typical price was just $5,000 shy of the record high set in July.

    A dip in interest rates may have lured more buyers into the market, contributing to the sales growth. However, October's tally remains among the lowest in 40 years. Prices rose in all six counties, with San Bernardino County seeing a record median price of $525,000.

    Sales from January through October reached nearly 146,000 transactions, which is below the average of 223,000 for the same period. Despite this, there was a 17 percent increase in deals from September to October. Lawrence Yun, chief economist for the National Association of Realtors, attributes this growth to building home-buying momentum after two years of suppressed sales.

    In Los Angeles County, sales rose by 15.3 percent to 4,899 transactions, with the median price increasing to $875,000. Orange County saw a 4.7 percent increase in sales to 1,994 transactions, while Riverside County experienced an 11 percent rise to 2,808 transactions.