As the housing demand in California remains strong, the March median sales price in Los Angeles and Orange counties set another record.
Los Angeles County had over 5,000 single-family home sales at a median price of $900,000—a 9 percent increase compared to the same time last year, according to Irvine-based CoreLogic (pdf), a real estate data reporting firm.
Meanwhile, Orange County saw nearly 2,000 single-family homes sold at a median price of $1.2 million, a 28 percent increase from March of 2021.
“March sales data continues to suggest strong buying interest and a solid housing market, as the effects of higher mortgage interest rates won’t be realized for a few more months,” California Association of Realtors Vice President and Chief Economist Jordan Levine said in a statement.
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