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Southern California home prices jump again. Lots of residents worry about affordability

Southern California home prices jump again. Lots of residents worry about affordability

The Southern California real estate market continued to sizzle in August as home prices jumped 7.5% from a year earlier, reinforcing new poll results showing widespread concern about the state’s housing affordability.

Across the six-county region, the median price increased to $500,000 from $465,000 a year earlier, though down slightly from $502,000 in July, according to a report Tuesday from data firm CoreLogic.

In Los Angeles County, the median price surged 9.4% to a record $580,000. The previous record of $575,000 was set in July.

It was the best August for home sales since 2006. Total sales in Southern California were up 3.2% year over year and surged 13.3% from a...

EDITION: California | U.S. & World
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