Home prices in the Los Angeles-Orange County area jumped 20.8 percent in the year ending in July, the biggest percentage gain since January 2006, the S&P/Case-Shiller Home Price Index showed Tuesday.
Case-Shiller is the last of four key housing market trackers reporting that Orange County home prices rose at least 20 percent in July. DataQuick reported that the median price of a single-family Orange County home increased 20.7 percent that month. The California Association of Realtors showed O.C. prices up 22.5 percent, while CoreLogic showed a 22.9 percent rise.
After 13 straight months of year-over-year gains, July home prices were back to November 2003 levels.
The gain also was the third-biggest among the 20 U.S. metro areas included…