The Southland’s move-up market showed some signs of life as the region’s
median home price improved for the second consecutive month in May, new
data show.
The median home price rose 5.4% in May from the same month last year to
hit $295,000, real estate research firm DataQuick reported Wednesday.
That was a 1.7% improvement over the prior month.
Sales throughout the Southland
also improved, up 20.6% from May 2011 and 15.1% from April to hit
22,192.
Helping boost the median was a narrower share of foreclosures selling as
part of the market for previously owned homes. Foreclosed homes
typically sell at a discount. Sales volume also improved for homes
priced above $300,000, helping boost prices.
