Southern California home prices jump to a new record high [Los Angeles Times (CA)]
CORELOGIC (CLGX)
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Source: Los Angeles Times
Southern California home prices jump to a new record high Southern California's median home price jumped 8.4% in March from a year earlier, setting a new all-time high, as hopeful buyers engaged in bidding wars over a limited supply of homes on the market. The six-county region's median price for new and resale houses and condos hit $519,000 last month, up $40,000 from a year earlier, real estate data provider CoreLogic said Monday. March's median topped the previous all-time high of $509,500 set in December. Sales, meanwhile, fell 6.2% compared with the same month last year, in part because there were fewer homes on the market than in 2017. When adjusted for inflation, March's median price — the point where half the homes sold for more and half for less — is still 13.4% below the high reached during last decade's bubble. But on a year-over-year basis, prices have now risen every month for six straight years — a result of an increase in jobs, historically low mortgage rates and a shor
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