Southern California home sales soar in June; prices climb 5.7%

[Matt R.]

Sales and prices climbed in all six Southland counties: Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura. In Orange County, the median price rose 4.9% from a year earlier to $629,500.

In Los Angeles County, prices climbed 8.7% to $500,000.

It can never always be the best time to buy. Just ask anyone who bought in 2005 and is still upside down 10 years later. What about today? Well if you believe Drhousingbubble you would sell now. UCLA who predicted last bubble, well they say no. I like reading Drhousingbubble. He points out a lot of crazy prices in hot areas. He says buyers are thining out. UCLA says June had best sales numbers since 2007. UCLA says the buyers today are buyers who want to stay in the home, especially first time buyers vs the insanity pre GFC. What do you think?

http://touch.latimes.com/#section/-1/article/p2p-84006284/

[Steve L.]

Certain markets are seeing strong price increases, with Sellers listing high and getting it.  Other markets have inventory just sitting as the Sellers high price isn't being taken out. 

I am still buying, but it is harder to find exciting deals.  Lots of competition and lots of people factoring in price growth.  

I still see population growth and a shortage of housing.