Real Estate Journal - "Where Houses Are Selling And Where They Are Not" (6-28-06)

"Last month, the median home price in Southern California ($485,000) posted its smallest year-over-year price gain, 6.4%, since July 2000, according to the Los Angeles Times. It's taking longer to sell a house, thanks to increasing mortgage rates, fewer speculators, and homeowners trying to sell before prices fall further, the article says. The areas that saw the smallest price appreciation in May were the first ones to see skyrocketing price tags during the boom, the Los Angeles Times says. For instance, last month, San Diego County's median home price went up a mere 0.4% to $490,000 from $488,000, and Ventura County's median price rose 3% to $586,000, the article says. However, the paper says, three counties reached record-breaking median prices in May: Los Angeles (which rose 10.9% from the year before to $509,000), Riverside County (which had a rise of 9.4% to $417,000) and Orange County (which saw an increase of 7.6% to $635,000)."