Southern California’s much-maligned housing market may finally be nearing the breaking point as we head towards the summer months, often considered a hot time to buy a house.
Home prices in Southern California dipped this March from a year earlier, something that hasn’t happened in the last seven years, though the drop was only a tenth of a percent from $519,000 in March 2018 to $518,000 this year. Home sales also continue to fall, something they have done in 12 of the last 13 months.
Today on AirTalk, a trio of local housing economists will examine the state of the Southern California housing market, talk about the latest statistics on home listings, and explore whether the market is nearing its peak and what that means for both buyers and sellers.
Jordan Levine, deputy chief economist with the California Association of Realtors