In a typically sluggish month, the median sale price rises 4% over the same period a year earlier, and sales jump 12.1%. The pace of sales is the best since 2006, aided by tax credits that end soon.
A house in Long Beach has a buyer. One driver of sales is the April 30 expiration of tax credits for home buyers. Low mortgage rates are also a factor. (Nick Ut / Associated Press / December 17, 2009) |
January 20, 2010
Rock-bottom interest rates and stronger sales in higher-priced neighborhoods helped Southern California's housing market post robust gains in the typically sleepy month of December, new data show, and experts say the momentum is continuing -- ushering in an early start to the spring home-buying season.
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