Housing Markets That Are Hot And Those That Are Not

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Housing Markets That Are Hot
And Those That Are Not

By Lauren Baier Kim

Here's a look at what's new in real-estate markets across the U.S. from around the Web.

Los Angeles median price hits record high

Home prices in Los Angeles County continued to rise last month, despite indications that the market may be slowing, says the Los Angeles Times. In March, the median home price rose to $506,000, surpassing the half-million-dollar mark for the first time in the region's history, the article says, double the median price of four years ago. However, there's also slowing price appreciation, fewer sales and more houses for sale, all signs of a slowdown, the Los Angeles Times quotes an economist from the University of California, Los Angeles as saying. Using conventional financing and a 20% down payment, a household would need an annual salary of at least $120,000 to purchase an area home at the current median price, according to the article.

 

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