Southern California median home price jumps to a record $536,250

http://www.dreamstime.com/-image14115451The Southern California median home sale price reached a new all-time high in June, jumping 7.3% from a year earlier, according to a report released Tuesday.

The six-county median — the point where half the homes sold for more and half for less — hit $536,250, real estate data firm CoreLogic said. That’s up $6,250 from the previous record high, reached in May.

Sales, though, plunged to 22,706, down nearly 12% from June 2017. It was the lowest number of closed sales for June in four years.

The drop in sales could signal that people are increasingly priced out of the market or simply unwilling to pay sky-high home prices. …

Click here to read the full article from the L.A. Times