Southern California Home Prices Are Holding

Even though the sales rate has slowed over the last six months, Dataquick's check of the public records tells us "the median price paid for a home in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties was $485,000 last month. That was the same as April, and up 6.4 percent from $456,000 for May last year." Home appreciation is at its lowest pace within the last 6 years, however 27,282 homes were sold in May, lower than the peak May in 2002, but an increase of over 10% from April, 2006.