Foreclosures? Price & Sales Are Up

Home prices in Southern California have gone up seven straight months in a row, including November ... which is usually a slow month. On top of that, the number of sales is up almost 15% over the same month last year: LA Times

What's driving all this? Simple: really low interest rates, relatively cheap prices, and the federal tax credit. It sure isn't foreclosures: there are only 94 on the market at the moment throughout the entire city of Long Beach, and people usually swarm them with offers to bid the price up.