Real Estate

Pardee Homes in Pasadena has purchased 359 residential lots in Menifee, where it plans to develop three neighborhoods. The seller was Menifee Heights Inc. LLC, a group of private investors, according to WD Land in Irvine, which helped negotiate the transaction. The land is now raw open space that must …

In other housing news, cash sales of homes and condominiums were down nationwide in November. Cash transactions made up 32.4 percent of all home sales during the next-to-last month of 2016, down 4.5 percent year-over-year, according to data released Monday by CoreLogic. That was 14.2 percent below the peak the …

January was a solid month for home sales in Southern California. A total of 15,422 new and previously occupied houses and condominiums were sold in the six-county region last month, the most sold in during January since 2013, Irvine-based CoreLogic reported Monday. That marked a 24.6 percent drop from December …

Newmark Grubb Knight Frank has completed the sale of Empire Towers I-IV, an office development in Ontario. The complex, which covers 400,976 square feet, sold for $78.5 million, according to a statement released Tuesday. The seller was a joint venture between CIP Real Estate in Irvine and Guggenheim Partners LLC, …

California’s housing market got off to a solid start in January. Single-family home sales totaled 420,100 during the first month of the year, up 2.1 percent compared with December and 4.4 percent year-over-year, according to the California Association of Realtors. The median price of a single-family home last month was …

Thirty one percent of California households could afford to buy a median-priced home – $511,360 – during the fourth quarter of 2016, according to the California Association of Realtors. That percentage was unchanged from the third quarter but was up 30 percent year-over-year, the association reported, the Los Angeles-based association …