This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.
Southern California home prices reached an all-time high in February as buyers competed amid a shortage of homes for sale, adding to signs that pandemic home-buying trends are extending into 2021.
The six-county region’s median sales price jumped nearly 15% from a year earlier to $619,750, according to data from real estate firm DQNews.
Sales surged 17.6% from February 2020.
The numbers, published Tuesday, show how a pandemic housing boom driven by historically low borrowing costs and by demand for more space is extending into 2021. Another factor: Many millennials are entering their early 30s — a time when many people purchase their first home.
Read the full story at LATimes.com.
