Southland housing market gains momentum

Strong demand from investors lifts home sales in February to the highest level for that month in five years. Because many of those deals were for less than $200,000, median prices fell.

A Southland home sales recovery gained steam in February as a record number of deep-pocketed investors snapped up distressed properties at bargain-basement prices. With so many purchases of low-end homes, median prices remained in a slump.

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