The Southern California housing market, known for its dramatic swings, is settling into a more normal, healthy pattern.
Home sales are up. All-cash and investor purchases are down. And home prices are rising at a more sustainable pace than in the last few years.
Economists said those factors put the regional housing market on a path for growth that won't wash away in a tsunami of foreclosures and ruined credit scores.
“The healing continues,” said Stuart Gabriel, director of UCLA's Ziman Center for Real Estate.
On Thursday, fresh evidence of that trend emerged in a report from CoreLogic.