Housing prices rose faster in Los Angeles County than they did in other parts of Southern California, according to a CoreLogic study released Tuesday, which looked at home prices from March 2016 to March 2017.
L.A. saw its home prices increase by 6.4 percent, while Orange County and the Inland Empire trailed behind with 4.7 and 5.8 percent increases, respectively.
Home prices in Los Angeles County have been rising faster than in surrounding Southern California cities since June 2016, the Pasadena Star-News reported. Annual gains, calculated each month, averaged 6.7 percent over the past year.
Frank Martell, CoreLogic’s president and chief executive said a mix of factors such as strong job gains, population growth and attractive mortgage rates amidst tight inventory have fueled price surges across the country. [PSN] — Subrina Hudson