Southern California home prices: How high can they go? [Live chat]
Southern California home prices shot up 28% in June from a year earlier, a record gain surpassing any increase seen during the last decade’s real estate bubble.
The median sale price for all homes sold in the region reached $385,000 in June, DataQuick reported Wednesday, a 4.6% climb from May. Meanwhile sales declined 2.1% from June 2012, an indication that inventory remains tight and the first year-over-year drop since September.
LIVE CHAT: Join us at 11 a.m.
The eye-popping year-over-year price gain — just the latest in a series of steep increases across the six-county Southland — has raised questions over how long such increases can continue.
Join Los Angeles Times reporter Alejandro Lazo at 11 a.m. for a discussion of where home prices are heading. Joining in the webcast will be DataQuick analyst Andrew LePage; Glenn Kelman, chief executive of online brokerage Redfin.com; and Bruce Norris, president of real estate investment firm the Norris Group.
ALSO:
Low inventory spurs home price gains
Southland home prices up 28.3% in June
New residential construction drops in June
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