The average home price in the Los Angeles/Orange County area increased 14% in February over the same period a year earlier. This is the highest year over year increase sine the housing turn around began over a year ago. The data reported by Case Shiller indicates home prices have increased year over year for 8 months in a row. The study tracks homes prices in the top twenty US markets and indicated increases in all of them. The increase in prices is largely attributable to inventory which has been at near records lows when adjusted for seasonality. In the South orange County communities of Coto de Caza, Rancho Santa Margarita and Ladera Ranch, the increases have been similar to the surrounding area.