Across Southern California and the Palm Springs Valley, home sales and median home price are both up from the same month a year ago.Â That's good news, we'll take it !Â We need it !
Last month, sales increase was the 6th consecutive uptick, with investors continuing to buy up homes and the move-up market increased some - at least, showed signs of life.Â Though home sales went down .5% from May to June, they were up 7.5% from June of 2011.
And though June's numbers look pretty good, it's a mixed bag when you look more closely.Â The fact that the median sale price was up again has more to do with a change in the types of homes that are selling rather than across the board appreciation.Â There are fewer homes selling as foreclosures now and more houses in the mid to higher end neighborhoods.Â And though June sales were stronger than a year ago, at the same time they were also 20% below average for that month.
The median sales price for Southern California was up 1.7% from May . . . and 5.3% from June 2011, hitting the $300,000 mark.Â We're all looking for that steady, solid uphill swing . . . not sure that we're there yet.Â The question is When ???