By Saul Daniels
Southland home prices hit their highest level in 58 months during April, and sales soared to their highest level for that month in seven years, the Daily News reports.
"This is definitely good news. The bump up in sales is probably the most significant piece of information that comes out of this," said Robert Kleinhenz, chief economist at the Kyser Center for Economic Research at the Los Angeles County Economic Development Corp. "I think this is shaping up to be a good year for the L.A.-area housing market," he told the newspaper.
During April, sales increased 9.5 percent to 21,425 properties in the six-county region, from 19,562 a year earlier, La Jolla-based market tracker DataQuick reported.
On a year-over-year basis, prices have increased for 13 consecutive months, and those gains have been double digit, between 10.8 percent and 23.5 percent, since this past August, the Daily News reported.
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