Posted 4/15/2024, 9:47:22 PM
Housing Prices Skyrocket in Southern California Suburbs as Limited Supply Meets Strong Demand
- Many once modest California towns like Placentia, Orange, Tustin now have median home values over $1 million
- Tustin home values jumped nearly 12% in one year; lack of open land and renovated older homes drove prices up
- California has 210 "million-dollar cities" with median home values over $1 million, more than the next 5 states combined
- Southern California cities like La Cañada Flintridge, Irvine, and Poway saw home value growth from 12-17% last year
- Limited housing supply and proximity to job centers have caused home values to skyrocket in Tustin and other areas
