Five facts why home prices have risen in 20-21
1- Low housing supply and high demand will continue to fuel the housing market in 2021
2- Record-low mortgage rates
3- Orange and Los Angeles counties hit record numbers in luxury home sales in 2020 despite the pandemic
4- Median home price in Los Angeles and Orange counties have jumped by more than 11% year over year
5- With many employers embracing work from home, expect some employees to rethink their living situation and move to larger homes
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Source: CRMLS, California Regional Multiple Listing Service, Inc.