Southern California Home Prices Going Up - Los Angeles Local News, Weather, and Traffic

Southland housing prices are up 10.2 percent year-to-year over 2012, but as investigative producer Heidi Cuda reports that's good news for sellers but tough on the average buyer.

Stan Smith, the managing director of Teles Properties in Beverly Hills, tells Cuda that a big part of the price jump is low inventory.

He says, when a good home goes on the market, he's not only seeing multiple offers but a majority of buyers are paying cash.