Sales Pace Surge and Price Appreciation in SoCal
The strong start to the year in the Southern California housing market continues to be borne out by the data. The median home price in Southern California climbed to $425,000 in March, a 2.4% gain over the $415,000 median price in February. The number of home sales increased by 11.4% from the year ago period. With supply in Los Angeles, Orange and San Diego Counties at approximately four months (six months is considered a balanced market), low inventory could push prices higher in the face of increased demand.
About author
You might also like
Orange County New Homes Hitting New Highs
Orange County has been a hotbed of new home activity over the past few years as demand from affluent families and foreign buyers has resulted in ever-increasing prices combined with
How a Return to Multigenerational Living is Shifting the Housing Market
Shifts in senior living, immigration, and affordability have brought extended families together under the same roof
Cities Can’t Assume a Continued Boost From the Young
Over the past decade, many American cities have been transformed by young professionals of the millennial generation, with downtowns turning into bustling neighborhoods full of new apartments and pricey coffee