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LOS ANGELES nike shoes on sale womens , July 26 (Xinhua) -- The median price of Southern California homes in June has a 7.5 percent leap compared with the same period last year, and most home prices are keep going up, according to a report from CoreLogic.


The highest record in history was in 2007, when the increase rate was 8.5 percent, the report said.


The median price of Los Angeles County in June was 569,000 U.S. dollars, 7.4 percent up from last year, which broke the record set in May. In Orange County nike shoes on sale 50 off , the median increase was 6.1 percent and kept the record of the previous month at 695,000 U.S. dollars.


The median home prices in other five county of Southern, including San Bernardino, Riverside, Ventura and San Diego, all rose last month compared to a year ago, according to the statistics showed on CoreLogic's report.


Corelogic is a California-based company providing financial, property and consumer information nike shoes on sale china , analytics and business intelligence.


"I don't see any price correction of the housing in Los Angeles County in a short time, at least in two years. I have many customers, who are looking for a home between 400,000 U.S. dollars to 600,000 U.S. dollars in the past three months," Miguel Gonzales, a real estate agent in Los Angeles County told Xinhua Wednesday.


Miguel Gonzales said "only few of them have found their ideal homes, since the demand is far more than the supply now and many houses for sale are those old and ugly ones nike shoes on sale online , which are not ideal for the buyers."


Due to the factors of growing economy, rock-bottom mortgage rates and a shortage of homes on the market, the home prices have been rising for more than five years.


Economists believed that these factors might make the home prices in California keep going up at 5 percent a year for the foreseeable future, according to the Los Angeles Times.


"In the past four to five months, the prices have surged fiercely since it's sellers' market now. The house inventory in Southern California is smaller this year compared with the past years, so the trading volume is not large", Vincent Ruan, a real estate agent told Xinhua on Wednesday.


"The houses between 500 nike shoes on sale ,000 U.S dollars and one million U.S dollars are the most popular," Ruan added.


The director of the USC Lusk Center for Real Estate, Richard Green, analyzed that such situation is the result of the strong economy and house building difficulties in California. Last year only 20,000 new homes were permitted to be built by Los Angeles County.


Green estimated that at least 100,000 new homes are required to stop the surging prices, and 35,000 additional each year are needed as well. The government officials stated that they are trying to figure out the process to address the problem and make the housing more affordable http://www.shoesonsale50off.com/ , Los Angeles Times reported.


Although the real estate market is very hot, not every corner in Southern California is experiencing a price raise. The luxury homes priced over one million U.S. dollars do not attract buyers that much.


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