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Freddie Mac

Writing love letters, bidding $100,000 extra: Buying a Southern California home is 'insane'

Writing love letters, bidding $100,000 extra: Buying a Southern California home is 'insane'

Jobs and wages are on the rise. Buyers are newly urgent, fearful an era of cheap money is ending. And to top it off, there simply aren’t enough homes listed for sale. As a result, bidding wars are common and prices are rising during the popular spring buying season. A report out Tuesday from CoreLogic shows the Southern California median home price jumped 7.1% in March from a year earlier, hitting $480,000 in the six-county area. And despite low inventory, sales rose 7.8%.

’12’13’14’15’16’17240288336384432$480 thousand240288336384432Home prices on the rise in Southern CaliforniaData: abcdefg hijkl mnop qrstu vwxyz 1234 56789Andrew Khouri / @latimesgraphicsSource: CoreLogic...

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