Southern California’s housing market is hot right now, but that’s bad news for anyone looking to buy.
Inventory is low, and prices are still climbing. Data from real estate tracking company CoreLogic shows Los Angeles County home sales in March of this year are up 8.5 percent compared to March last year and the median home price is $549,000, more than $40,000 more than the same time in 2016. Overall, Southern California saw a nearly 8 percent growth in home sales in comparing March of this year to last.
Are we heading for another real estate bubble? Or are we already in one? Plus, what does the current and future landscape of foreign money, especially from China, look like in Southern California?