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California Experiencing Hot Housing Boom


Million Dollar Listing star Josh Flagg joined a panel of CNBC reporters on Squawk Box on Thursday and revealed that California is currently experiencing a housing boom – particularly in the million dollar housing market.

According to Flagg, large home sales have continued to increase by three percent month-over-month for the last several months, making the Golden State an even hotter area to buy right now than New York City.

“I think people in Los Angeles in specific have come to the conclusion that we have 365 days of sunshine a year, you don’t have to drain your pool because it’s going to crack in the winter like in the Hamptons, and you’re not paying $3,000 or $4,000 a square foot,” Flagg said.

Image via flickr/Atwater Village Newbie

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