So Cal Home Prices Still Rising

By
Real Estate Agent with Rodeo Realty BRE# 01220669

 

Home prices in Southern California continued to rise in April, but sales have begun to slow due to growing inventory, according to San Diego real estate data firm DataQuick.

The median price paid for all new and existing houses and condos sold in the six-county region last month was $404,000, more than 13 percent higher than the $357,000 median price a year earlier. That price is only about 1 percent higher than the prior month and represents the highest price since February 2008 when it hit $408,000. See properties in San Fernando Valley bellow median price.

However, the pace of buying has slowed. Some 20,000 new and existing houses and condos were sold in April, down nearly 7 percent from last year but up 14 percent since March.

“There’s still pressure on home prices but it has moderated,” said DataQuick analyst Andrew LePage. “There are certainly factors undermining housing demand, including affordability constraints, credit challenges and less investment activity. But there are considerable forces fueling demand, too.”

The six-county region includes Ventura and San Bernardino counties and all areas south.

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California Los Angeles County
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san fernando valley
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Rainmaker
1,160,765
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Joe - While prices are up, there are still opportunities to get a great property! 

May 14, 2014 04:28 AM #1
Rainer
59,125
Joe Neuah
Rodeo Realty - Sherman Oaks, CA
Doing Real Estate with Passion!!

That is right Laura, and interest rates are great!

May 14, 2014 04:34 AM #2
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Rainer
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Joe Neuah

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