Dive summary:
- The housing recovery clearly has been a state-by-state process and sometimes region-by-region, but Southern California had a month in July that was good by almost any measure, with both the supply of homes and the prices paid for them rising.
- Analytical firm DataQuick reported that the median sales price in the six counties – Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange – was 26% above July 2012, and the number of new and existing houses and condominiums sold was up 17.6% from June and 23.5% from the year before.
- To quiet anyone who sees those kinds of increases and thinks "bubble," the $385,000 median price among all types of homes was 23.8% below the high it hit in the spring and summer of 2007.
From the article:
A Realtor.com report out Tuesday revealed that California has been replaced by a new set of market leaders in regards to inventory decline. ...
