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The housing market is a heartbreak in California, but is it getting any better?




A for sale sign stands before property for sale in Monterey Park, California on April 25, 2017.
A for sale sign stands before property for sale in Monterey Park, California on April 25, 2017.
FREDERIC J. BROWN/AFP/Getty Images

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California is losing population to domestic migration, people relocating to this state have significantly higher incomes than those leaving it, according to reports.

Meanwhile, some residents are frustrated by the lack of affordable homes on the market. The median home price in an average neighborhood is above $1 million. According to a report by ReportsOnHousing, which tracks regional home-buying patterns, sellers are still in the driver’s seat.

We examine the trends and highlights that are driving the market. Why are people struggling to find homes in Southern California and how much one needs to make in order to afford a home.

Call us at 866-893-5722.

Guests:

Oscar Wei, senior economist at California Association of Realtors; he tweets @oscarcwei

Steven Thomas, chief economist and founder of Reports On Housing, an Orange County-based firm that tracks regional homebuying patterns