Mathews Associates

"Building Lifestyles for Life"

Southern California housing market strengthens in December

Posted by Dwight Mathews on January 22, 2010

Rock bottom interest rates and stronger sales in higher-priced neighborhoods helped Southern California’s housing market post robust gains in the typically sleepy month of December, new data shows, and experts say the momentum is continuing-ushering in an early start to the spring home-buying season.

The median price paid for a Southland home rose 4% to $289,000 last month from December 2008, the first time the closely watched figure has posted a hear-over-year gain since the region’s real estate market took a nose dive 2 1/2 years ago, according to data released Tuesday by MDA DataQuick, a San Diego real estate research firm.

The increase in December home prices follows a dismal 2008.  Even with the rise, the median price was still 42.8% lower than its $505,000 peak during several months in 2007.  To continue reading the entire article in the LA. Times you can click on the link below.

After you read the article below, stop back by so you can read my next post about how the Baby Boomers and Investors will be the dominate players in rescuing the Real Estate Market in 2010-2011!    See Ya Then.  Dwight (Matt) Mathews 909.790.8196 ‘HIRE ONE FOR YOUR SIDE”

via Southern California housing market strengthens in December – latimes.com.

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