The sluggish Southern California housing market showed signs of perking up in April, as prices ticked up one month after they fell for the first time since 2012.
In a report released Wednesday, real estate firm CoreLogic said the six-county median sales price climbed 1.4% from a year earlier to $527,500. Sales, meanwhile, were up nearly 12% from March — far more than the average 2.2% month-to-month increase seen in April as the home-selling season heats up.
CoreLogic analyst Andrew LePage said the slight annual rise in the median price and the double-digit jump in sales indicate a sustained drop in mortgage rates has brought some buyers back into the market.
However, the annual gain in prices was far smaller than in recent years and the median — the point where half the homes sold for more and half for less — remains $7,500 below the all-time high reached in June.View Article