Southern California's housing market surged again last month, with the number of homes sold climbing more than 14% from a year earlier to their the highest level for any November in six years.
It was the 11th straight month of year-over-year increases, according to real estate research firm DataQuick. The median home price for the region was $321,000, up from $315,000 the two prior months and a nearly 17% increase over $275,000 in November of 2011.
Helping to boost the median home price, the number of sales rose in the trade-up middle ranges of the market and at the high end, while sales volume fell in less expensive areas.
Investors paying cash for homes remain an unusually large part of the regional housing market, DataQuick said.
More buyers feel confident about their jobs, the economy and housing prices, said John Walsh, president of the San Diego data firm.