Home Prices Jump 17% in Southland (Los Angeles Metro) [View All]

[David Zephyr]

Home Prices Jump 17% in Southland: The median cost in the six-county region hits $476,000 in August as sales volume picks up.

By Annette Haddad, Los Angeles Times Staff Writer

Southern California's hot housing market reheated in August as prices rose at a faster pace for the second month in a row after slowing earlier this year, according to data released Tuesday.

The median home price in the six-county region rose 17% to $476,000 last month compared with the year-earlier period, after year-over-year increases of 16.7% in July and 15% in June, according to DataQuick Information Systems, a La Jolla-based real estate research firm. The volume of transactions also regained steam after tapering off in recent months.

Full Story: http://www.latimes.com/business/la-fi-homes14sep14,1,4002227.story?coll=la-headlines-business&ctrack=1&cset=true