LOW INVENTORY DRIVES DOUBLE DIGIT PRICE INCREASES IN SOUTHERN CALIFORNIA

Southern California homeowners appear to be staying put this summer, as the number of Southern California homes for sale continues to dwindle. The shrinking inventory coupled with rising interest rates is causing anxiety among home buyers and has pushed home prices higher each month. The result is a 58 month high in the median home price in Southern California, with each of the 6 counties posting price and sales increases.

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APRIL 2013 VERSUS APRIL 2012 REAL ESTATE MARKET ACTIVITY

·        Los Angeles County’s Real Estate Sales Increased 9.7%

·        Los Angeles County’s Median Sales Price Increased 27.4%

·        Orange County’s Real Estate Sales Increased 13.9%

·        Orange County’s Median Sales Price Increased 27.4%

·        Riverside County’s Real Estate Sales Increased 8.1%

·        Riverside County’s Median Sales Price Increased 24%

·        San Bernardino County's Real Estate Sales Increased 9.6%

·        San Bernardino County's Median Sales Price Increased 24.8%

·        San Diego County’s Real Estate Sales Increased 6.5%

·        San Diego County’s Median Sales Price Increased 21.4%

·        Ventura County’s Real Estate Sales Increased 10%

·        Ventura County’s Median Sales Price Increased 16.7%

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