Mortgage interest rates near all-time lows are a key factor in the housing market upward trajectory climb.
By Jeff Collins, firstname.lastname@example.org
Posted: 09/06/16 – 7:40 PM PDT |
House prices continued rising in July, increasing from year-ago levels for a 51st straight month in Los Angeles County and the Inland Empire and the 50th straight month in Orange County, the CoreLogic Home Price Index showed Tuesday.
Orange County has had the lowest appreciation rate in the region, with July house prices up 4.6 percent. By comparison, prices were up 6.3 percent in the Inland Empire and 6.7 percent in L.A. County, CoreLogic numbers show.
Nationwide, the price of an existing single-family home increased 5.4 percent from July 2015 levels. Prices were up 5.9 percent statewide.
CoreLogic’s monthly price index is based on same-home comparisons, computing the average price change of all homes sold compared to each home’s previous sale price.
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