"The median has increased year over year for 13 consecutive months, with double-digit gains in every month since August. The median nevertheless remains 29.3% off its peak of $505,000, from summer 2007. "From an affordability perspective, this remains an excellent time to buy," said Stuart Gabriel, director of UCLA's Ziman Center for Real Estate. "The price movements in the middle to upper ranges is consistent with a market that is normalizing."..."
[LA Times 5/14/13]
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