LA and OC Home Prices Up 6.3%, Outpacing National Average

Home prices in Los Angeles and Orange counties rose 6.3% in June compared with a year earlier, according to a closely watched gauge released Tuesday.

The increase was greater than the 4.5% year-over-year pop seen nationally and represents a slight pick-up from May’s reading, when prices rose 6.2% in the two counties, the Standard & Poor’s/Case-Shiller index showed.

The Southern California housing market has experienced a robust spring and summer this year, with sales hitting multi-year highs. Sales have been up nationally too, as sustained job growth has given more families the confidence to buy homes.

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