Home sales in Southern California remain stagnant, with 11,966 homes sold in February—showing little change from last year. This figure reflects the third-lowest sales total for February since 2005. In contrast, home prices have risen by 5 percent, hitting a median of $823,000, nearly tripling since 2012. Contributing factors include economic uncertainties such as trade tariffs and a volatile stock market, leading to buyer hesitation. Inventory has increased as bidding wars decrease, indicating a shift in the real estate landscape despite soaring prices.
Southern California home sales have stalled, with 11,966 homes sold in February, almost unchanged from the previous year, marking the third-lowest February sales total since 2005.
Home prices in Southern California have continued to rise, with a 5 percent increase and a median price of $823,000, nearly tripling since 2012.
Economic uncertainties such as trade tariffs and a volatile stock market, along with slowed employment growth, are contributing to the hesitancy in the housing market.
The inventory of homes on the market rose as buyers have become more hesitant, while home prices have matched record highs in Orange and Ventura counties.
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