Home buyers in Southern California are in a “feeding frenzy,” according to some real estate agents. Ernest Figueroa says home prices have soared as supply has fallen…
Housing prices in Southern California increased by double digits in March for the eighth straight month. In San Bernardino County, the median price rose 18.3% to $429,500, while sales climbed 29.3%. Real estate agents say the nationwide boom, which started before the pandemic started last year, is due to a mix of factors: low mortgage rates, people looking for more space, and millennials who are reaching their 30s, which is when people traditionally start buying a house. Some analysts believe the boom will continue until mortgage rates spike.
