Southern California Median Home Price at $396,000 in May

Record high levels were reached in home sales last month, and according to DataQuick Information Systems it's the result of high demand for home purchases by buyers who wanted to make a move before interest rates move higher.

The median price paid for a Southern California home was $396,000 last month, up 2.3 percent from $387,000 in April, and up 26.9 percent from $312,000 for May 2003.

A total of 31,151 homes were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in May. That was down 5.4 percent from April's 32,916 and down 0.8 percent from 31,387 for May last year. More information is at http://www.dqnews.com/ .

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