Housing slowdown: Southern California home prices flat in August
Housing slowdown: Southern California home prices flat in August
Abstract
The six-county region’s median held steady at $740,000, the fourth consecutive month prices didn’t increase. Sales of new and existing houses, condos and townhomes dropped 28.3% from a year earlier. The housing market has slowed sharply in recent months, a consequence of rising mortgage rates that priced many would-be buyers out of the market. Rates have more than doubled in the last year. The steep rise in borrowing costs adds more than $1,000. A steep increase in borrowing Costs adds more.
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