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Housing Market Still Not Sane

It has been a few weeks since we checked in with our schizophrenic friend Housing Market. The latest data tell us that she is as crazy as ever. The market has definitely slowed down, but prices are up. The number of homes sold in Southern California is down 26.2% since this time last year and is a nine-year low. L.A. County alone is down 18.9%. But wait! Here comes another personality. The median price of a house in Southern California is up 1.7% over a year ago to $487,000. L.A. County is, of course, crazier than that with a median price of $510,000, up 2.6% over a year ago. But wait! Another personality! Nationwide, mortgage applications are up, while interest rates increase too. Someone get H.M. some meds!
· SoCal Homes Sell at Slowest Pace in 9 Years in November [Lansner on Real Estate]
· LA Home Prices Rise as Sales Fall Across Region [CBS2]
· Mortgage Applications Rise, Rates Back Up [CNN Money]