Home Prices Continue to Surge as Sales Activity Slows

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The median price of a single-family house in L.A. County surged in January, while sales activity only marginally improved, according the California Association of Realtors.


The median price rose 22.7 percent to $475,880 in January compared to year-ago numbers and prices were up 2.7 percent compared to revised December figures, CAR reported.


Statewide, the median home price increased 20.1 percent to $485,700 compared to a year ago. The figure represents a 2.4 percent rise in the statewide median price from December.


Meanwhile, L.A. County sales activity was up 4.4 percent year-over-year and down 11.1 percent compared to December. Statewide, the number of sales 7.1 percent over a year ago and 2.1 percent rise in activity from December.

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