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Median home price in Southland climbs

June 13, 2012|By Alejandro Lazo
  • A 1920s Craftsman-style house in Eagle Rock.
A 1920s Craftsman-style house in Eagle Rock. (Allen J. Schaben / Los Angeles…)

The Southland’s move-up market showed some signs of life as the region’s median home price improved for the second consecutive month in May, new data show.

The median home price rose 5.4% in May from the same month last year to hit $295,000, real estate research firm DataQuick reported Wednesday. That was a 1.7% improvement over the prior month.

Sales throughout the Southland also improved, up 20.6% from May 2011 and 15.1% from April to hit 22,192.

Helping boost the median was a narrower share of foreclosures selling as part of the market for previously owned homes. Foreclosed homes typically sell at a discount. Sales volume also improved for homes priced above $300,000, helping boost prices. 

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