Southern California Real Estate is Back

Continuing a 20-month trend, year-over-year home sales in Southern California were up again last month, helped by government support and second home investors. In addition to peaking sales velocity, pricing trended up from lows set previously in the cycle. See the following article from DQNews for more on this.

Southern California home sales in February were above year-ago levels for the 20th month in a row as buyers continued to snap up bargain properties with government-backed mortgages and tax incentives. The median price paid for a home rose on a year-over-year basis for the third consecutive month, a real estate information service reported.