From the L.A. Times:
Home prices in Southern California jumped 11.4% in January —
the largest year-over-year gain in 44 months as the region's already sizzling
housing market got even hotter.
The double-digit rise in the median price put it at
$507,000, which was lower than December's peak of $509,500 when the six-county
region surpassed bubble-era highs of $505,000 in 2007, according to a report
out Tuesday by research firm CoreLogic.
Affordability drives everything in the Inland Empire," said analyst Patrick Duffy, principal of MetroIntelligence Real Estate Advisors...And while mortgage rates remain historically low at about 4.5% for a 30-year fixed loan, they are ticking up and the increases may be impelling some buyers to sign on the dotted line, Duffy said..."I'll bet some people on the fence are saying 'I am going to pull that trigger,'" he said. "Here's your chance to jump before prices go higher."
READ MORE
No comments:
Post a Comment