San Diego-based DataQuick released its Property Intelligence Report (PIR) for February, and the findings showed that home sales increased in 29 of the 42 counties reporting data. That was up from just 11 counties showing higher sales in January, the company said.
In a release announcing the report, Gordon Crawford, DataQuick's vice president of analytics, said, "While we saw a slight uptick from the extremely low sales levels reported in January, total sales remain far below historical levels."
The report covers 42 of the largest counties in the country using valuation trends, real estate-owned (REO) inventory trends, and sales trends metrics, according to the company.
The February report also found that sales increased in six of the 42 reported counties over the last quarter. Over the last year, sales were up in 16 of the 42 counties covered.
DataQuick also reported that home-price growth was positive in 38 of the 42 reporting counties in the period from January to February 2014. Prices also rose in 39 of the 42 reporting counties in the year-long period ending in February.
Crawford noted, "Many underlying economic factors have contributed to decreased sales over the past year, including unsustainable home-price growth. Though widespread price increases have started to level off some in the early part of the year...