Southern California home prices broke another $100,000 price barrier nearly 11 times quicker than the previous 100k breakthrough.
” digs into trends that may indicate economic and/or housing market troubles ahead.Southern California home prices broke another $100,000 price barrier nearly 11 times quicker than the previous 100K breakthrough.My trusty spreadsheet tracked DQNews’ median prices for six Southern California counties and the benchmark’s history of breaking through $100,000 price levels.
The index didn’t come back to $500,000 until June 2017. All told, it took 163 months — that’s 13-plus years — between the first time the median passed a half-million and when it cracked $600,000 in late 2020. And the wild swings in the time between these “historic” events should serve as a reminder that price increases — and certainly huge gains — are by no means guaranteed. And the years surrounding the Great Recession aren’t the only example of stagnant homes prices.
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