Housing market stabilizing

The San Fernando Valley's housing market could be entering the spring and summer buying season in its best shape since 2006, with prices and foreclosures finally showing signs of stabilizing, officials said Wednesday. Gregory J. Wilcox in the Daily News.

The median price of a Valley house has been in the mid- to upper-$300,000 range for three consecutive months while sales continue to make gains from low levels of a year ago, said the San Fernando Valley Economic Research Center at California State University, Northridge.

"I think we've hit the bottom on median prices," said William Roberts, director of the CSUN center, which tracks the market from Glendale to Calabasas.