Southern California home sales surge in April

SAN DIEGO - A research firm says Southern California home prices neared a five-year high last month as sales picked up in more expensive markets.

DataQuick said Tuesday that the median price for new and existing homes reached $357,000, rising more than $11,000 during the month of April alone and up 23 percent from the same period last year. It marks the 13th straight month of annual price increases and the highest level since June 2008.

Sales grew 10 percent from last year to more than 21,000 homes. It is the highest April sales tally since 2006.

Sales surged across all six counties. Homes above $500,000 sold especially well.

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