Southern California home prices hit 6-month high - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Southern California home prices hit 6-month high

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SAN DIEGO (AP) — A research firm says sales of high-end homes pushed prices to a six-month high in Southern California last month.

DataQuick said Tuesday that nearly 20,000 new and existing homes and condos sold in a six-county region during March, up nearly 3 percent from a year earlier. The median price was $280,000, barely changed from last year and the highest since September.

Home sales rose sharply from February, reflecting the usual seasonal increase. Sales are up from year-earlier levels for three straight months and in seven of the last eight months.

DataQuick says the first big sales month of 2012 suggests Southern California's housing market remains in a gradual, fragile recovery.

 

Copyright 2012 The Associated Press.

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