Housing tracker: Southern California home prices and rent

In February, Southern California home prices increased by 0.3% to an average of $874,382, the first uptick in seven months. The slight rise in prices could indicate a potential escalation during the upcoming spring selling season, but experts predict minimal change due to high mortgage rates and an increase in existing homeowners choosing to sell, which has led to more homes on the market. Following the recent fires in January, rental prices in areas such as Santa Monica and Glendale have seen accelerated growth, with reports of price gouging and increased competition in the rental market.

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