Southern California home prices rose 5.6% in November, while sales climbed for the third straight month.
After a sluggish start to 2019, the Southern California housing market is ending the year on an upswing.
But as incomes have risen and mortgage rates have dropped, the market has shown signs up turning around. One month’s data should always be read with caution, but November’s numbers could indicate buyer mentality is shifting. Households are probably growing more confident as fears about the national economy have eased, said Christopher Thornberg, founding partner at Beacon Economics.like some feared. Thornberg said many are probably thinking: “Oh, my god. I better get out there and get that house.”In Los Angeles County, the median price climbed 4.2% to $625,000, while sales rose 6.1%.
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