The housing market in San Fernando Valley, Calif. continues to improve as homes prices increased and foreclosure activity trended down in July. Per the Los Angeles Daily News:

Last month the median price of a previously owned Valley house rose to $508,000 from $400,000 in July 2012, said the San Fernando Valley Economic Research Center at California State University, Northridge.

Foreclosures in July fell 54.6% to 103 properties from 227 a year earlier and were unchanged from June.