Dr. Delores Conway, director of the Casden Real Estate Economics Forecast at the USC Lusk Center for Real Estate, is quoted in the June 8, 2009 edition of the Los Angeles Business Journal
Home Prices Finally Go Up
Los Angeles Business Journal
By David Haldane
...For the first time since house prices began plummeting nearly two years ago, the median sale price of Los Angeles County homes has gone up from the previous month. Granted, the increase was small. The median price of homes that sold in May was $305,000, up from $303,000 in April, according to data supplied to the Business Journal. Still, prices have been firming up lately; month-to-month declines have been small this year leading up to May's modest increase. That's dramatically different from last year when prices swooned month to month.
The latest numbers are "consistent with what we've seen since the beginning of the year," said Delores Conway, a real estate economist and director of the Casden Forecast at USC's Lusk Center for Real Estate. "We are in a bottoming process..."
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June 8, 2009