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 July 19, 2009

San Diego County Home Prices Continue to Rise
For the third month in a row, San Diego County's median home price showed an increase. As of June, the median price in the county stood at $314,250. This price is the highest amount since October of this year. With these numbers, hopes are raised that the county's sluggish housing market may be gearing itself up for a comeback.
The median price in the county increased a total of just over $19,200 in one month. This is the result of there being fewer foreclosed properties and more higher priced ones on the market. This six and one half percent increase is the highest on record. Additional sales of properties over the $500,000 price attributed to the increase. Sales of these types of homes made up for nearly 20% of all home sales in Southern California in June.

Analysts report that the number of foreclosed properties available on the market was at its lowest point since May of last year in June 2009.

Three months of solid price increases is a significant milestone on the road to recovery. Analysts are becoming increasingly optimistic that the region may be headed towards a solid recovery.