"The median home price in Southern California rose about $25,000 in March alone to hit $345,500, underscoring the region's fast-paced recovery. "Those levels of house-price increases cannot be sustained, and will not be sustained, and nobody should make the mistake that we are back in the bubble period," said Stuart Gabriel, director of UCLA's Ziman Center for Real Estate. "The price increases will elicit new supply, and we see evidence of that new supply in the new home market."..."
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