Home prices in Southern California reach bubble-era highs

The Southern California median home price tied a record of $505,000 in September. (Bryan Chan / Los Angeles Times)
By: Andrew Khouri

Southern California home prices in September tied an all-time high, as the white-hot real estate market continued to surge and raise concerns over housing affordability.

The median price for the six-county region soared nearly 10% from a year earlier, to $505,000, data firm CoreLogic said Tuesday. That matches a price level reached in 2007 before the housing bubble burst and the economy cratered.

In some corners of the Southland, home prices have already risen past their peaks.

In Los Angeles County, the median last month was $575,000, up 9.5% from a year earlier and $25,000 higher than its 2007 peak.

In Orange County, September’s median was $710,000, up nearly 11% from a year earlier and $65,000 from the 2007 height.

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