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IRVINE, CA-The prices of finished lots have risen in 38 of 50 geographic regions in Southern California since hitting bottom about a year ago, but they remain below their peak of 2005, according to a new issue of the Hoffman Land Index. The locally based company’s latest survey shows that the price of a finished lot in 80% of the region has risen for the past 18 months straight.

The latest prices for a 7,200-square-foot finished lot represent “a remarkable increase” compared to the bottom of the market a year ago, according to Hoffman co-principal Tom Dallape. He notes that Hoffman brokered more than 30 land transactions for a total value of more than $300 million in the first two quarters of this year, primarily in the Inland Empire, a figure that is more than double the transaction volume of a year ago.

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