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Bloomberg Businessweek: So. Calif. home prices match two-year high in June

By Associated Press reporter Elliot Spagat. Southern California extended its housing recovery in June as the median sales price matched a two-year high and buyers drawn by low interest rates snapped up homes in pricier coastal regions.

July 17, 2012

...Richard Green, director of the University of Southern California's Lusk Center for Real Estate, believes California's housing market hit bottom at the end of last year or early this year. He said metrics such as the relationship of housing prices to rental costs and income suggest the timing is ripe to buy a home.

"The fundamentals for owning are the best they've been in a while," he said. "You probably have to go back to 1997. Owning just looks really good now..."

See the link below:

Link: Bloomberg Businessweek