Tracking firm: Southern Calif. median home price posts first year-on-year jump since 2007
By Jacob Adelman, APTuesday, January 19, 2010
Firm: Southern Calif. home price rises in Dec.
LOS ANGELES — A tracking firm says the median home price in Southern California rose 4 percent last month from December 2008, its first year-on-year gain since summer 2007.
San Diego-based MDA DataQuick reported Tuesday that the increase was the result of more high-priced homes in relatively expensive neighborhoods entering a market that had been dominated by lower-end sales.
Last month’s median home price in the six-county region of Southern California was $289,000, up from $278,000 in December 2008 and from $285,000 November.
DataQuick also says home sales increased more than 12 percent from a year ago to more than 22,300. December’s increase made for 18 consecutive months of year-on-year gains.
