Home sales in Southern California and statewide rose in February due to slightly better mortgage rates, with California's existing single-family home sales up 7% from January but down 0.3% from last year. Median home prices increased 0.9% statewide to $830,370. Prices varied by region, with some areas seeing declines. Mortgage rates recently hit a seven-month high, potentially affecting buyer momentum amid tight inventory and economic challenges.
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