June Los Angeles Residential Real Estate Market Heats Up

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The number and price of homes sold in the Los Angeles metropolitan area continued their upward trend this year in June, according to data from the Seattle real estate company Redfin.

The number of homes sold was 7,551, compared with 6,758 in May and 7,538 in June last year.

The median sales price area rose from $539,000 to $540,000, which was a 7 percent increase from last June.

The local increase in the number of homes sold and their cost was less than their increase nationally, however. The number of homes sold across the country climbed 15 percent between May and June, whereas it grew only 12 percent locally.

The change in the country’s median price was 0.3 percent, compared with Los Angeles’ 0.2 percent.

Finance reporter Caroline Anderson can be reached at [email protected]. Follow her on Twitter @Caroline_Mander.

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