Throughout the pandemic, a rush on supply coupled with rock-bottom mortgage rates made the U.S. housing market a seller’s delight with prices bursting through the roofs. Now, some top economists say buyers can look forward to a break by late 2021 or early 2022. In Southern California, however, home prices could still buck the national trend.
As Business Insider reports, finance-analytics firm CoreLogic found that national home sales prices rose by 11.3 percent this March over the same time last year—the biggest jump of its kind since 2006—following 10.4 percent growth in February and 11.2 percent in January. In SoCal’s six counties, March figures rose by 14.5 percent over 2020.
Nationally, the median home sale price hit a high of $329,100 in March, up from 280,700 for the same time last year, while in SoCal that figure was $630,000 in March, up from $600,000 in December 2020.
One factor that is expected to ease prices are…