SoCal homes prices again set all-time high, jumping 12.1% from last year despite global pandemic

Local news
A file photo shows a home for sale in Burbank. (Kent Nishimura / Los Angeles Times)

A file photo shows a home for sale in Burbank. (Kent Nishimura / Los Angeles Times)

In the middle of a global pandemic, Southern California home prices keep setting records.

The six-county region’s median price reached $600,000 in August, up 12.1% from a year earlier, according to data released Wednesday by DQNews.

That was the largest percentage increase since 2014 and the third consecutive month during which prices set a new all-time high. Sales rose 2.4% from a year earlier.

The price leap may seem unlikely amid double-digit unemployment, but analysts say the trend reflects the uneven effect of the coronavirus and its economic fallout.

Read the full story on LATimes.com.

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