SoCal Home Prices Jumped Again in August Amid Concerns About Affordability
The Southern California real estate market continued to sizzle in August as home prices jumped 7.5% from a year earlier, highlighting new poll results showing widespread concern about the state’s housing affordability.
Across the six-county region, the median price increased to $500,000 from $465,000 a year earlier and down slightly from $502,000 in July, according to a report Tuesday from data firm CoreLogic.
In Los Angeles County, the median price surged 9.4% to a record $580,000. The previous record of $575,000 was set in July.
It was the best August for home sales since 2006. Total sales in Southern California were up 3.2% year over year but surged 13.3% from a sluggish July, CoreLogic said.
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