“California Housing Market Update: Record-Breaking Price Increases in Southern California”

The housing market in Southern California continues to be a challenge for homebuyers, with prices soaring to new heights. According to data from First American Data & Analytics, Orange County saw the largest increase in home prices among 30 major US markets, with a 10.2% jump in April.

This surge in prices was seen across all segments of the market, with starter homes experiencing a 9.3% increase and luxury homes seeing a 10.3% gain. San Diego also experienced significant price hikes, with an 8% overall increase and gains of 5.8% for starter homes and 10.2% for luxury homes.

However, not all Southern California markets saw such substantial gains. Los Angeles County saw a 4.3% increase in home prices, while the Inland Empire only experienced a 2.6% increase.

These price increases are putting pressure on homebuyers in the region, making it increasingly difficult for many to afford a home. With prices continuing to rise, the housing market in Southern California shows no signs of slowing down.

For more information on this topic, visit the Orange County Register website.