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As Listings Rise Nearing Market Peak, A Check-In On SoCal Housing Market Heading Into Summer

May 23, 2019

Home for sale by owner

Home for sale by owner; Credit: Christopher Okula/KPCC

AirTalk®

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.

Guests:

Steven Thomas, chief economist and founder of Reports On Housing, an Orange County-based firm that tracks regional home buying patterns

Jordan Levine, deputy chief economist with the California Association of Realtors

 

This content is from Southern California Public Radio. View the original story at SCPR.org.

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