Southern California home prices hit a record in March amid sky-high mortgage interest rates, a combination that’s creating the most unaffordable housing market in a generation. The average for the six-county region reached $869,082 in March, according to Zillow. That's up 9% from a year earlier and 1% higher than the previous all-time high in June 2022. With rates hovering in the upper 6% range, the mortgage payment on the average home now tops $5,500 — if you can put 20% down. "It's bananas,"... Read this story
