Southern California homes sold at the fastest pace for an April in seven years, according to a report from DataQuick.
The surge in demand follows a thawing in pent-up demand for move-up homes and high levels of investor purchases.
According to the company, a total of 21,415 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month.
This is the highest amount since April 2006 when 27,114 homes sold. However, the amount is still 11.8% below the April average of 24,291 sales.
Meanwhile, the median house price has risen on a year-over-year basis for 13 consecutive months.
The median sales price rose to a 58-month high, reflecting both home price appreciation as well as the simultaneous plunge in foreclosure resales and rise in mid-to up-market buying, the research firm found.
"This is a market that is still re-balancing," said John Walsh, DataQuick president.
He added, "Now it's catch-up time, with a healthier economy spurring more demand and rising prices tempting more people to put their homes up for sale."