June 16 2010
The Southland's housing market surged in May with the median home price soaring 22.5% from its year-earlier level as tax incentives for buyers and rock-bottom interest rates ignited sales, a real estate research firm reported Tuesday. Sales volume in Laguna Beach was up 53.6% compared to May, 2009.
The only counties in which sales volume was down occurred in Riverside and San Bernardino.
By Alejandro Lazo, Los Angeles Times
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