April 16, 2015
After a year of sluggish demand, more homes sold and prices perked up in March as an improving economy and short supply pushed up the median home price by $10,000, according to a new report.
But whether strong price increases will continue is uncertain, economists said. If more owners don't list their homes for sale soon, the gains could accelerate as more buyers fight over slim pickings.
Job growth over the last year — as well as a period of subdued price appreciation — is giving more people confidence to purchase a home in pricey Southern California, economists said.
“We have had really good job performance for a while now,” said Richard Green, director of USC's Lusk Center for Real Estate.