Housing Bubble News

The median home price in California last month surged 20.9 percent from May 2009 to $278,000, as inventories of low-cost foreclosures dwindled and transactions in mid-range and high-end neighborhoods claimed a greater share of sales, a tracking firm reported Thursday. Last month's median was up from $230,000 a year ago and up 9 percent from $255,000 in April, San Diego-based MDA DataQuick said. The May median, which marked a seventh consecutive month of year-over-year increases, was at its...Read Full Story

The median home price in Southern California last month rose 22.5 percent from a year earlier and topped $300,000 for the first time in 20 months, as sales continued shifting from low-priced inland areas to higher-end coastal regions, a tracking firm reported Tuesday. San Diego-based MDA DataQuick reported that last month's median of $305,000 in the six-county region was up from $249,000 in May 2009 and up 7 percent from $285,000 in April. The May median, which marked a sixth consecutive...Read Full Story

The median home price in Northern California last month rose 20.1 percent to top $400,000 for the first time in nearly two years, as inventories of low-cost foreclosures dwindled and transactions in mid-range and high-end neighborhoods claimed a greater share of sales, a tracking firm reported Thursday. The median for the nine-county area increased to $410,000 from $341,500 in May 2009 and rose 10.8 percent from $370,000 in April, San Diego-based MDA DataQuick said. The May median, which...Read Full Story

Home sales in Southern California declined last month for the first time in nearly two years, as buyers appeared to time their purchases to cash in on a state tax credit and supplies of affordable inland properties dwindled, a tracking firm reported Tuesday. San Diego-based MDA DataQuick said home sales in the six-county region dropped about 1 percent last month from April 2009 to about 20,300, breaking what had been a 21-month run of consecutive year-over-year increases. Sales also fell...Read Full Story

The median home price in Southern California rose 14 percent last month from March 2009, as more high-end homes trickled into the region's sales mix, a tracking firm said Tuesday. San Diego-based MDA DataQuick reported that last month's median of $285,000 was up from $250,000 in March 2009 and up almost 4 percent from February's $275,000. The increase came as the proportion of sales tilted away from low-cost foreclosures and toward pricier homes in more expensive neighborhoods. March's sales...Read Full Story