Southern California's housing market ended the year with sharp gains, rounding out the first solid year of sustained improvement after nearly five years of real estate malaise — and helping set up further improvement in 2013.

The region's median home price registered a sizable 19.6% pop in December compared with the same month last year to hit $323,000, real estate firm DataQuick reported Tuesday. A record level of cash buyers flooded into the market and more move-up homes sold last month.

While Southland housing is on the mend, the steep increase in the region's median price last month probably reflects a variety of factors, such as the mix of what sold in December, and the run-up may not continue at that brisk pace, experts said. The median is the point at which half the homes in the region sold for more and half for less.

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