Southern California home price gains slow in April

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Updated: 5/13 10:34 am

SAN DIEGO (AP) — A research firm says Southern California home prices increased at a slower pace last month. Sales fell but less dramatically than in previous months.

DataQuick said Tuesday that the median sales price for new and existing single-family homes and condominiums was $404,000 in April, up 1 percent from $400,000 in March and up 13 percent from $357,000 a year earlier. It is the 25th straight month that the median sales price rose from a year earlier but the lowest annual increase since September 2012.

Slightly more than 20,000 homes sold in the six-county region, down 7 percent from the same period last year but still a strong showing after anemic results for February and March.

The San Diego-based company said higher inventory eased price increases.

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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