
- The median sale price increased 1.8% from October to $285,000 (but note in Los Angeles County, the median sale price declined 3.2% to $329,000)
- Prices have increased (or held steady) for seven consecutive months
- The percentage of foreclosures as part of the overall resale market continued to decline
- Sales of new construction units reached a yearly high
- The number of homes repossessed in November increased 2.4% over the previous month
- The residential construction industry continues to shed jobs -- in LA County 18,700 are employed vs 21,400 in October 2008
- Government-incentives -- generational-low interest rates spurred by the Fed's purchase of mortgage backed-securities and the $8,000/$6,500 buyer credit -- will come to an end this spring
LA Times: Rebound in Home Prices Continues
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