Southern California real estate appreciation slows
For the first time since June 2003, Southern California home prices have appreciated less than 20%, falling to 18.6% according to DataQuick Information Systems.
Overall, home sales were up and the average home price in the area for March was $439,000.
More important, the supply of available homes is dwindling in Los Angeles and Orange County, where supply has dropped to half of what it was just 6 months ago. Combined with low rates, the lack of supply of properties for sale should keep the market strong for the near future.
Overall, home sales were up and the average home price in the area for March was $439,000.
More important, the supply of available homes is dwindling in Los Angeles and Orange County, where supply has dropped to half of what it was just 6 months ago. Combined with low rates, the lack of supply of properties for sale should keep the market strong for the near future.
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