Housing market stabilizes
San Fernando Valley home prices showed more signs of stabilization in August and annualized sales increased for the 14th consecutive month, a trade association said Monday.
The median price of a previously owned house slipped 8.5 percent last month to $389,000, from $425,000 a year earlier, said the Van Nuys-based Southland Regional Association of Realtors.
It is the second consecutive single-digit price decline and follows 19 months of double-digit drops.
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Los Angeles Daily News City Hall reporter Rick Orlov writes about politics on the local, state and national stage.
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