4/13/2007

Home Price Up Over $500,000 Median for L.A. County

Los Angeles County's median home price (including houses and condos) is over $500,000 for March sales.

"If nothing else, the long-awaited downturn seems a little tardy — at least in most of Southern California.

"The perception out there is that we're at the edge of a volcano and about to fall in, but the numbers don't indicate that's happening," DataQuick analyst John Karevoll said." Los Angeles Times.

Mark Zandi at Economy.Com continues to believe, however, that the Southern California "housing correction" is in full swing and will last through next year.

So far, it would appear the correction is in the number of properties sold, as opposed to price, at least concerning Los Angeles County.

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