82°

Topics

Financial and Business Services
Once-hot Southern California housing market further cooled in May
Once-hot Southern California housing market further cooled in May

The Southern California housing market continued to mellow out in May, with price gains slowing down and sales still running low. The typical house in the six-county region sold for $410,000 in May, according to figures from San Diego-based DataQuick. That’s up 1.5% from April and 11.4% from May of 2013, the smallest annual gain in nearly two years. After fast appreciation last spring, Southland home prices have largely leveled out since interest rates rose last summer and more houses trickled out for sale. But with investors backing out and the stocks of foreclosures and short sales drying up, the market now hinges on regular buyers, and they’re facing tight lending, a...

Loading