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Nobody Knows Nothing

Time to look at some numbers, people. In February, homes in L.A. County hit a new median record, rising 7.8% to $528,000, according to go-to firm DataQuick Information Systems. It was the biggest year-over-year percentage gain since July, notes the LA Times, adding sales are leveling out: home sales fell 11% to 6,300. A DataQuick analyst weighs in, saying the "price pop" isn't such a big deal, L.A. is still a "market in transition" and that spring will be the time to judge how much demand is out there. Yes, declares the Times, the "outlook seems hazy." Funny, our Magic 8 ball said: "You may rely on it."
· L.A. home prices post another record high [LA Times]