Real Estate: You Still Can't Afford a House

"San Fernando Valley residents bought slightly fewer homes last year than in 2004 but the market remained strong as the median resale price hit a record for the sixth consecutive year, indicate preliminary results for December. Last month's 892 single-family home sales pushed the 2005 total to 12,569 transactions, the eighth-straight 12,000-plus year, according to the Van Nuys-based Southland Regional Association of Realtors. December's median price, the point at which half the homes cost more and half less, was $590,000. That's $10,000 under November's $600,000 record and guarantees another annual mark." From The Daily News.

Tags: Real Estate, Resale Value, Bubble

See also: Search for houses in the San Fernando Valley