Southern California Home Price rises

Please read the article “Southland homes prices looking up” in today’s Los Angeles Times news paper ( July 16). This is a very comprehensive review of the current Southern California Real State market trends.

Major statistics from this article:

1. The median values increased by 6.4% in June from May as high-end properties take a greater share of the housing market. Less than 50% of the sales are foreclosures: the first time that has happened in 9 months.

2. Current median price in 6 counties is $265K vs. $505K in July, 2008. The percentage decrease from a year ago is 42% in San Bernardino county, 33% in Riverside county, 23% in LA county, 15% in San Diego county, 13% in Ventura county, and 11% in Orange county. The number of sales increased by 55% in San Bernardino, 35% in LA county, 25% in Riverside county, 20% in San Diego, 17% in Orange County, and 10% in Ventura county. 

I have recently purchased houses from low-ends to above-median price. My observation is consistent with this article in my area.