The real estate markets in Northern and Southern California have never been hotter. Multiple offers and bidding wars define them. Compass West President Kamini Lane and Selma Hepp Executive, Research & Insights, and Deputy Chief Economist at CoreLogic (the Irvine-based data analytics company) lend their insights and perspective on these dynamic real estate markets.
EP: What are the differences between Northern and Southern California markets right now?
Kamini Lane (KL) The markets are more alike than different right now. Both have experienced low inventory, all-time high prices, bidding wars, and a record number of sales. In short, both Northern and Southern California markets are booming.
In Southern California, home sales have increased rapidly in…