What are you talking about @tovarichpeter? What record drop in LA house prices? According to the article:
“Home prices in the area, meanwhile, continued to rise.
The median home price in Southern California during the month of June was a record $541,250, according to CoreLogic – up 2.5 percent from the month prior and up 1.2 percent year over year.”
When volume drops the median usually rises - articles that quite one without the other usually a shill for somebody.
This article discusses both, which is good, and per content: volume drop, median increase (as price insensitive buyers continue to buy, but there are fewer of them). So consistent with decrease in housing market.
patrick.net
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