Home prices are on the rise across California. According to Global Property Information company CoreLogic, the price of a home increased eight-point-two-percent on a year-over-year basis. That's faster than the national figure of 6.6-percent. There has been much stronger demand for homes in the hot markets in the Golden State, which is along the state's coastal communities.
For sale inventory remains extremely low while there remains an increased demand to buy homes from millennials that are transitioning to becoming first time home buyers. With an increased demand and a limited supply, that's translating to the rise in home prices. Over the next year, CoreLogic expects to see further increases in home prices in most markets.
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