Home prices in California jumped in 2021 while housing sales decreased as corporate investors continued buying up homes across the state. Housing in Los Angeles and San Francisco rose nearly 19 percent last year, while San Diego home prices jumped 25 percent higher, according to a report. S&P Dow Jones Indices (S&P DJI), a leading measure of home prices, reported on Feb. 22 that housing increased an average of 18.8 percent across the U.S., the largest increase since 1987. Home prices rose the fastest in Phoenix, Tampa, and Miami. The Los Angeles metro area also ranked third nationally for being home to 57 cities with a typical home price of $1 million, according to real estate company The Zillow Group. San Francisco and New York metro areas lead the way with 76 million-dollar cities each. In California, nearly 445,000 single-family homes were sold in January—an 8 percent drop from the year …
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