Southern California's home-price decline slowed to a crawl in March as sales improved from the same month a year prior and homes in more expensive areas sold.
The Southland's median home price slipped just 0.2% from March 2011 to hit $280,000. Compared with the prior month this year, the median price rose 5.8%, the second consecutive increase, real estate research firm DataQuick reported. The median is the point at which half the homes in the region sold for more and half for less.
Sales increased 2.8% year-over-year to total 19,953 homes in the six-county region, DataQuick reported. Sales improved the most in Orange, Ventura and San Diego counties.
[Updated, 11:14 a.m. April 17: As is normal with the start of the spring shopping season beginning to get underway, home sales from February to March jumped 28.1%. Historically, sales have jumped 37.0% between those two months, DataQuick said.