The high costs are driving the amount of sales to a six-year low. There were a total of 17,638 new and resale houses and condos sold in the Southern California area in March. That's the lowest in March since 2008.
There is no doubt that the housing market has recovered from the meltdown that occurred just a few short years ago. However, in some states home values still have not returned to the prices we saw in 2006 and 2007.
The median price for a single-family home in Burbank was up last month, compared to the same time last year, but the number of homes for sale was down significantly, according to the latest real estate report.
With mansionization marching on in some Los Angeles neighborhoods and city officials saying stricter regulations are still a year and a half away, some vexed residents are taking matters into their own hands.
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