Southern California Home Prices Rise as Distress Declines
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Home prices in Southern California climbed last month from a year earlier for the first time in 16 months as sales of distressed properties, which usually sell at a discount, dropped to the lowest level in four years.
The median paid for houses and condominiums was $290,000 in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties, up 3.6 percent from both March and a year earlier, San Diego-based data seller DataQuick said today in a statement. Last month’s median was the highest since December 2010, when it also was $290,000.