Southern California Real Estate Bubble? Prices up in December
While California real estate bubble talk goes on, the areas real estate prices continue to rise.
The median price paid for a home in December in Southern California last month rose 22.5% from last year to a record $424,000, according to real estate firm DataQuick Information Systems.
"The big question now is whether the cycle will play itself out in 2005 with a soft landing or with a turbulent crunch," said Marshall Prentice, DataQuick's president. "Right now, the soft-landing scenario appears the most likely."
Median price Los Angeles County home prices rose 21.2% to $418,000 from last year. In Orange County, the December median gained 18% to $551,000 and was up less than 2% from November's $541,000, according to real estate firm DataQuick.
Inland Empire home prices surged 36.4% to $371,000 from a year earlier.
San Bernardino County's median jumped 30.7% to $281,000.
Ventura County saw its median price rise 26.1% to $522,000 in December.
Need a Southern California real estate agent or mortgage broker?
The median price paid for a home in December in Southern California last month rose 22.5% from last year to a record $424,000, according to real estate firm DataQuick Information Systems.
"The big question now is whether the cycle will play itself out in 2005 with a soft landing or with a turbulent crunch," said Marshall Prentice, DataQuick's president. "Right now, the soft-landing scenario appears the most likely."
Median price Los Angeles County home prices rose 21.2% to $418,000 from last year. In Orange County, the December median gained 18% to $551,000 and was up less than 2% from November's $541,000, according to real estate firm DataQuick.
Inland Empire home prices surged 36.4% to $371,000 from a year earlier.
San Bernardino County's median jumped 30.7% to $281,000.
Ventura County saw its median price rise 26.1% to $522,000 in December.
Need a Southern California real estate agent or mortgage broker?
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