Southern California home prices jumped 10% in February [Los Angeles Times (CA)]
CORELOGIC (CLGX)
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Source: Los Angeles Times
Southern California home prices jumped 10% in February Southern California home prices jumped 10.2% in February compared with a year earlier, while sales remained nearly flat as the region and the state grapple with a shortage of homes for sale. The median price across the six-county region clocked in at $506,750 last month, real estate data firm CoreLogic said Wednesday. That's up from a revised $495,500 in January but below an all-time high of $509,500 in December. It's not unusual for the median — the point at which half the homes sold for more and half for less — to fluctuate month to month, and prices are up solidly from last year. In Los Angeles County, the median hit a new all-time high of $580,000 in February, up 10.5% from a year earlier. Elsewhere in Southern California, median prices increased as well. A growing economy and a shortage of homes listed for sale are helping drive the increases. That's spurring a political debate about whether state government should restrict l
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