Home buyers on the West Coast are forced to purchase older homes because of inflation. The values have been slowly growing since 2008, and reached a peak in April this year. According to Kenny Slaught, this happened due to interest rates and job growth. Los Angeles County noticed a 3.5% job increase, while Orange County had a 2.4% growth. Fixed mortgages have a rate of 3.5%, which is close to the 3.31 low encountered in November 2012. While the property prices in the state are not stable, California still has the highest values in the entire country except for Hawaii. This resulted in many new home owners choosing the less expensive condominiums.
Kenny Slaught Notes Hot Market Driving Up Prices
by Kenny Slaught ⋅