Skip to contentSkip to site index

Los Angeles County sees drop in home sales amid long-term recovery

City sees 31% increase in homes on market as buyers prepare for bigger rebound

CAR President Heather Ozur and LA County (LinkedIn, Getty)

Southern California’s housing market appears to be on the up-and-up long term after a dropoff in sales from May to June. 

In June, L.A. County saw a 5.4 percent decrease in home sales from May, though the figure was up 1.1 percent year-over-year, according to the latest monthly sales report from the California Association of Realtors. At the same time, Orange County saw a 1.2 percent decrease in home sales in May and a modest 0.1 percent increase from the previous June. 

Los Angeles, San Bernardino and Imperial Counties saw home prices increase quite a bit from the previous month. L.A. County saw the biggest jump of 8.2 percent from May to June, or an increase in median home sale price to $903,650 in June from $835,480 the month prior. That’s part of a yearlong rebound in prices, as last June’s median home sale price was $889,190, according to CAR. 

Meanwhile, in Orange County, home prices recovered from a slight tumble. The median price in the O.C. was $1.47 million in June, a 3.3 percent increase from $1.42 in May and 1.4 percent increase from $1.45 million a year ago. 

In the City of Los Angeles, more homes are on the market compared to a year ago. There were 3,550 active listings on the city’s market — 30.9 percent more than were for sale in L.A. last June. 

The combination of current conditions could be shaping up to make it a buyer’s market. 

The 30-year, fixed-mortgage interest rate averaged 6.82 percent in June, marking a drop from 6.92 percent a year before, according to CAR’s calculations based on Freddie Mac mortgage survey data. “With more properties on the market and price growth flattening, conditions have become more favorable for prospective buyers who have been waiting on the sidelines to reenter the market and take advantage of increased negotiating power,” Heather Ozur, CAR’s 2025 president and a Palm Springs Realtor, said in a statement. “Recent improvements in housing sentiment suggest that the market could see a bounce-back in the second half of the year.”

Read more

Office Availability Varies in Los Angeles and Orange County
Commercial
Los Angeles
LA office availability increases “amidst uncertainty over industry consolidation”
Residential
Los Angeles
SoCal resi market sees wave of deal cancellations continue
California to Create State Housing Agency
Affordable housing
Los Angeles
California to create new housing agency to meet shortage crisis
Recommended For You