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Firm: Southern Calif. home price rises in Dec.

By JACOB ADELMAN

posted: 21 DAYS 14 HOURS AGO

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LOS ANGELES -A tracking firm says the median home price in Southern California rose 4 percent last month from December 2008, its first year-on-year gain since summer 2007.

San Diego-based MDA DataQuick reported Tuesday that the increase was the result of more high-priced homes in relatively expensive neighborhoods entering a market that had been dominated by lower-end sales.

Last month's median home price in the six-county region of Southern California was $289,000, up from $278,000 in December 2008 and from $285,000 November.

DataQuick also says home sales increased more than 12 percent from a year ago to more than 22,300. December's increase made for 18 consecutive months of year-on-year gains.

2010-01-19 12:50:57

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