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Meanwhile in the Valley

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And some conflicting data to counteract this morning's news. Via the Daily News: "Home sales jumped 26 percent in the San Fernando Valley in April, and more evidence emerged that the months-long price decline may be abating, a trade association said Wednesday. The median price of a previously owned Valley house increased from $345,900 in March to $355,000 in April - a 3 percent jump, said the Van Nuys-based Southland Regional Association of Realtors." [Daily News]