SOUTHLAND – (INT) – A steady rise in home prices that began in January 2012 may be running out of steam.

CoreLogic found that while sales prices continued to rise compared to a year ago, there have been decreases in recent months as affordability falls and more would-be buyers are squeezed out of the market.

Riverside County posted the largest gain in Southern California last month, but only by $3,000 to an average of $335,000. San Bernardino County homes sold for $280,000, a decline of almost 2 percent from June.

Cash buyers are dwindling to just 1 in 5 in Southern California. The same percentage applied to investors and some vacation-home buyers.

CoreLogic says the typical mortgage payment that Southern California homebuyers committed to in July was $1,662.

Story Date: August 28, 2016