Southern California home prices hit another unsurpassed high in December, covering a time of sharp growth that left some first-time buyers disappointed while homeowners counted their equity gains.
The six-district area’s middle deal cost came to $697,500 last month, up 16.3% from a year sooner, land information firm DQNews said Friday. It denoted the tenth time the middle set a standard in 2021, a craze driven by low rates, millennial purchasers and a craving for really living space during the pandemic.
A few economists forecast that prices will rise again this year, yet the increments are relied upon to be more modest as reasonableness – currently an issue for some – turns into an expanding barrier to homeownership.
Regardless of whether that happens is another question.