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O.C. home prices up 4.1% in September

O.C. home prices up 4.1% in September

Orange County home prices increased 4.1% in the year ending in September, a modest rate of appreciation compared to the state and national rates, figures from the newly released CoreLogic Home Price Index show.

By comparison, California home prices increased 6.1 percent year over year in September. Nationwide, prices were up 6.4 percent.

Neighboring counties in Southern California likewise had bigger year-over-year gains than reported for O.C.

Prices were up 5.4 percent in Los Angeles County and 5.7 percent in the Inland Empire counties of Riverside and San Bernardino.

The CoreLogic HPI is based on same-home sale-price comparisons for existing attached and detached single-family homes.

Orange County home price appreciation has hovered between 3.8 percent and 4.9 percent this year so far, according to the CoreLogic HPI.

Nationwide, prices held steady in the 4.8 percent to 6.5 percent range since mid-2014.

“After nearly 10 years of very high home price volatility, home price increases have been remarkably stable for the last 15 months,” CoreLogic Deputy Chief Economist Sam Khater said.

But CoreLogic’s Irvine-based CEO, Anand Nallathambi, warned that continued price gains are translating into an “emerging affordability crisis.” The solution, he said, is to build more homes.

Contact the writer: 714-796-7734 or jcollins@ocregister.com

The Orange County Register – News Headlines : Real Estate News