California News Southern California

SoCal Home Prices Are Up, Sales Are Down

Los Angeles Daily News-

The first of two housing reports expected this week showed Los Angeles and Orange County house prices up 7.8 percent in the year ending in June, with price gains of 4.3 percent in the Inland Empire.

However, fewer homes sold at those elevated prices amid signs the California housing market “is transitioning,” according to the California Association of Realtors.

The median price of an existing single-family home hit $539,000 in the L.A. metro area, CAR reported, up $39,000 from the June 2017 median. That figure included a median of $586,090 for a Los Angeles County house and a median of $835,500 for an Orange County house, up 6.9 percent and 5.1 percent respectively.

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