By Andrew Khouri
August 18, 2015
The Southern California housing market is enjoying a summer almost as hot as the weather.
Home sales reached a nine-year high in July, while prices climbed 5.5% from a year earlier, according a report out Tuesday from CoreLogic.
The data represent a housing market that’s picked up steam from a sluggish 2014, as an improved economy gives more families the confidence to purchase a home. June sales were also at a nine-year high.
“Much of today’s demand stems from job growth, low mortgage rates and a more confident consumer,” CoreLogic analyst Andrew LePage said.
Compared with July 2014, sales rose 16.9%.
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