90623, La Palma, CA

The La Palma zip code 90623 has a population of just over 10,000 people and an average home value of just over $500,000. This makes it one of the more expensive zip codes in the area.

Home equity is a big factor in home prices. When buyers are able to borrow against the value of their homes, they are more likely to be willing to pay a higher price for them. In La Palma, home equity is especially important because there are relatively few homes for sale compared to other areas of the country. As a result, buyers have a lot of power when negotiating with sellers.

Another factor that affects home prices is interest rates. When interest rates are high, it becomes more expensive for people to borrow money to buy homes. This means that sellers can demand higher prices for their homes because they know that there is a greater chance that someone will be able to afford them. Conversely, when interest rates are low, it becomes cheaper for people to borrow money and this tends to drive down home prices. Right now, interest rates are relatively low which is helping drive up home values in La Palma.