1. Home sales in Southern California increased in June by 7.5% compared to last year, according to DQNews
. The median home price in June increased by 5.3% on an annual basis, to $300,000, the highest since June 2010 when the "market got a final big boost from expiring homebuyer tax credits."
2. The Commerce Department reported today
that housing starts increased in June to 760,000 units on an annualized basis, which is the highest monthly count since October 2008. June housing starts were 7% higher than the May level of 711,000 units, and 23.6% above the 615,000 starts in June of 2011.