Southern California home price surge in February
The median cost of Southern California homes is up more than 21%, to $425,000 over the same time last year, according to DataQuick Information Systems.
The Inland Empire, Riverside and San Bernardino counties, experienced the highest gains, as those unable to afford housing towards the coast move inland - as do real estate investors.
Orange County slowed to an almost 17% increase, Ventura County 18%, and Los Angeles County came in at 20.5%.
Overall, housing inventories are higher than last year, but very low historically. According to some experts, this is because there are many homeowners in Southern California that would like to sell, but that don't want to buy another house in the current market.
The crazy California real estate market continues.
Click for a Los Angeles real estate agent.
The Inland Empire, Riverside and San Bernardino counties, experienced the highest gains, as those unable to afford housing towards the coast move inland - as do real estate investors.
Orange County slowed to an almost 17% increase, Ventura County 18%, and Los Angeles County came in at 20.5%.
Overall, housing inventories are higher than last year, but very low historically. According to some experts, this is because there are many homeowners in Southern California that would like to sell, but that don't want to buy another house in the current market.
The crazy California real estate market continues.
Click for a Los Angeles real estate agent.
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