Southern California home sales and prices surged higher in September, the latest evidence of a hot housing market during the global COVID-19 pandemic.
The six-county region’s median price rose 15.3% from a year earlier to a record $612,750 last month, according to data released Wednesday by DQNews.
Sales soared 22.3%.
The market, both locally and nationally, has been on the rebound since slowing sharply this spring at the height of the coronavirus stay-at-home orders.
Though unemployment is high, the economic downturn has disproportionately affected lower-wage workers less likely to buy a home in the first place.
Real estate agents and analysts say many households with decent-paying jobs are eager to take advantage of historically low mortgage rates. And some want out of small apartments now that they work from home.
The number of homes for sale, however, is below last year’s…
