Southern California Housing Market Slowly Improving

HousingWire reports for the first time since the housing tax credits ended in June 2010 that home sales have spiked in Southern California.  San Diego-based DataQuick says June over May 2011 sales increased 11.6 percent, but still 14 percent below June 2010 for this populous six county area.  June is typically the best month for sales in the area, and has varied from a low of 18,032 in 2008 to 40,156 in 2005.  The median price paid for new and resale homes last month was $285,000, up $5,000 from the previous month.  Over 50 percent of the resale market homes last month was distressed properties.

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