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local edition ANALYTICS California // The housing market in California's Southland region closed out 2012 with the highest number of December home sales in three years, real estate information company DataQuick reported. According to DataQuick, a total of 20,274 new and resale homes and condos were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino, and Orange counties in December. The month's total was 5.1 percent up from November and 5.3 percent up from December 2011. The M Report | 77 se c on da r y m a r k e t DataQuick reported that Southern California is on track for additional improvements in the year ahead, following strong home sales figures to end 2012. a na ly t ic s Florida // Home prices continued to inch up in November 2012, according to Lender Processing Services' (LPS) Home Price Index (HPI) for the month. LPS' data showed home prices increased to an average $207,000 in November, an increase of 0.5 percent from $206,000 in October. On a yearover-year basis, prices were up 5.1 percent from November 2011's $197,000. Year-to-date, November's HPI was up 5.8 percent from $196,000 in January, according to LPS. The recorded peak for this SoCal Home Sales Heat Up in December s e r v ic i ng Revealing findings from the company's most recent Home Price Index, LPS' statistics showed Florida, New York, and the District of Columbia in the lead. cycle (reached in June 2006) was $266,000. Florida topped the list of states to see the largest price gains in November, posting a 1.5 percent month-over-month improvement. The Sunshine State hosted all of November's top 10 metros in terms of price improvement, with growth ranging from 1.2 percent to 1.9 percent. On the state level, the other "biggest movers" (following Florida) were New York (1.1 percent growth), Washington, D.C. (1 percent), Georgia, Minnesota, and Nevada (the latter three all coming in at 0.9 percent). Only Rhode Island and Massachusetts reported price declines from October (-0.1 percent and -0.2 percent, respectively), while Washington, Oklahoma, and Alaska all stayed flat. Springfield, Massachusetts, posted the largest price decline among metros in November, seeing -0.6 percent growth. Or ig i nat ion LPS Index Shows Pricing Gains in the Sunshine State While the region usually sees a rise in sales in the last month of the year, December's volume was the month's highest since December 2009, when 22,328 homes sold. In addition, the median price paid for a home in the Southland region was $323,000, up 0.6 percent from November and 19.6 percent year-over-year. According to DataQuick, Southland's median price has risen or held steady month-to-month for 11 consecutive months and has increased on a year-over-year basis for nine consecutive months. "The housing market had more to offer in 2012 than many anticipated," said DataQuick President John Walsh. "A lot of markets not only found a price bottom as foreclosures waned, but they started to see their first meaningful gains in nearly two years. Buyers on the fence were drawn back into the housing game by amazingly low mortgage rates, a brighter jobs outlook, and, in some cases, a renewed sense of urgency." The rise in median prices was also driven by an increase in sales in mid- to high-cost markets. Home sales between $300,000 and $800,000 (a range that includes many move-up buyers) increased 31.4 percent year-over-year. Sales more than $500,000 increased 40 percent year-over-year, while sales more than $800,000 rose 36.3 percent. Lower-cost areas, on the other hand, posted the weakest sales compared with last year. The number of homes sold below $200,000 fell 28.1 percent year-overyear, while sales below $300,000 slipped 18.2 percent. DataQuick attributes the declines to a slowdown in foreclosure activity and high levels of underwater homeowners who can't afford to sell. The company also reports investor and cash buying was at or near record levels in December, with absentee buyers (mostly investors and second-home purchasers) accounting for 29.1 percent of home sales. Absentee buyers paid a median of $252,750, up 24.8 percent year-over-year.