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Southern California Condo Market Slows | Real Estate News
Southern California’s condo market is in freefall, with sales down 25% year-over-year—the slowest pace in over 20 years. Despite a stubborn median price of $685K, growth has stalled at just 2% over four years, a far cry from the 47% surge before that. Underlying economic headwinds—job growth 92% below its 10-year average, stagnant wages, and rising inflation, especially gas prices—are squeezing buyers. Los Angeles leads the decline with 30% fewer sales, while Orange County’s sky-high prices mask a 27% drop. Even the Inland Empire is cooling. Prices haven’t crashed, but volume has plummeted…
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