© Provided by KTLA-TV Los Angeles SoCal home prices broke 10 records last yearSouthern California home prices hit another all-time high in December, capping a year of sharp growth that left many first-time buyers frustrated while homeowners counted their equity gains. The six-county region's median sale price reached $697,500 last month, up 16.3% from a year earlier, real estate data firm DQNews said Friday. It marked the 10th time the median set a record in 2021, a frenzy driven by low rates, millennial buyers and a desire for more living space during the pandemic. Some economists forecast that prices will rise again this year, but the increases are expected to be smaller as affordability - already an issue for many - becomes an increasing barrier to homeownership. For the latest news, weather, sports, and streaming video, head to KTLA.

Source: Los Angeles Times January 21, 2022 15:34 UTC