$860,000 countywide median for all homes — flat for the month and up 8.9% in a year.
Rates on a 30-year, fixed-rate mortgage averaged 5.24% in the three months ending in June vs. 3.00% a year earlier. That translates to 24% less buying power for house hunters. Changing rates meant a buyer paid $3,796 a month for Los Angeles’s $860,000 median priced-residence vs.$2,665 monthly on a $790,000 median 12 months earlier. So prices rose 9% vs. a house payment’s 42% increase.
Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at
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