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Source: LA Daily News
Research analyst with CoreLogic, Andrew LePage states that Southern California housing market ended 2015 in a high note but with a caution. “December home sales, which were the highest for that month in six years, got a boost from a batch of transactions that normally would have closed in November but were delayed by days or weeks as the industry adjusted to new federal mortgage rules that took effect in October.
A market tracker says that Southern California has a 10 percent home sales increase, the second-biggest gain of the year.
Sales increased 8 percent from a year earlier to 7,198 properties and rose 8 percent to $500,000 for the media price in Los Angeles county. In November, Sales rise to 38 percent from 5,202 and move up to 2 percent in the median price.
Sales step up to 11 percent from the prior year to 2,413 properties and marked up to 7 percent to $272,000 for the media price in San Bernardino County. Sales are up to 24 percent from November while the median price drenched 2.5 percent.