Numerous people on the West Coast have to settle for less trendy homes due to high prices. The state’s property prices have slowly grown since 2008, and reached their peak this April. The job growth, supply and demand, and interest rates are a few factors that influenced the value increase, Kenny Slaught says. Right now. 30 year mortgages stick at 3.5% or less, which is almost the 3.31% low seen in November 2012. There was a 2.4% job growth in Los Angeles County and a 3.5% increase in Orange County, which also affected the market. While prices in California still fluctuate, the state has the highest values in the country except for Hawaii. This discouraged many new homeowners who chose to buy the more affordable condos.
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