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April 2012 Southern California Real Estate Market Report
APRIL 2012 SOUTHERN CALIFORNIA REAL ESTATE MARKET REPORT
COULD IT BE THE END... OF THE SOUTHERN CALIFORNIA HOUSING CRISIS?
The weather is not the only thing that's getting hot in Southern California! The Southern California real estate market is showing definite signs of recovery, with inventory continuing to drop, and the median home price and number of Southern California home sales inching upwards.
SOUTHERN CALIFORNIA HOME PRICES CLIMB AS INVENTORY DRIES UP
Home buyers appear to be feeling the heat, as they become more and more anxious to find a home. At a time of the year when new listings begin to spring up all over town, Southern California home buyers are dealing with a strange new reality of having less and less inventory to choose from.
In addition to low inventory, buyers are beginning to become concerned about the prices; The Southern California median sales price was $290,000 in April, which was an increase of 3.6%, over the median sales price posted in March, and a 17.4% increase from this real estate cycle's low in April of 2009. This could be a signal that we have officially seen the bottom of the real estate market in Southern ... more

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