The prices of the homes in southern California barely rose last month, since the possible buyers could not or willing to offer much more housing costs.
Economists and real estate agents cited a variety of probable factors that contribute to the trend, including high mortgage rates, the increase in inventory and economic uncertainty falls partly due to rates again, again.
In March, the average housing price in the Southern California region of six counties increased 0.38% from a month prior to $ 875,908, according to Zillow’s data. In the last 12 months, prices rose 1.9%, the smallest annual gain since August 2023.
“The real estate market is no longer a sellers market,” said Orphe Divouung, Zillow’s senior economist.
Part of the reason are the vendors themselves, said Divouy. Around the last year, more owners have put their homes in the market, deciding that high mortgage rates are here to stay and it is more important to move than clinging to cheap loans that acquired pandemic duration.
At the same time, possible buyers do not have a bone so anxious to return.
Richard Green, director of the USC Lusk Real Estate Center, said that a reason is that the mortgage rates remain high in the high 6%range, which limits Drastox what people can buy with the COVID-19 pandemic were less less.
Commercial wars.
For months, consumer confidence has decreased, as Americans care about Trump’s administrations Duty Inflation will revive and damage the labor market.
The Los Angeles-Oarea real estate agent, Mark Schlosser, said it has been that customers stop looking to buy due to economic uncertainty, but that it has noticed that houses are now in the market longer.
“There are some people who are perhaps waiting to see [what happens] Before continuing buying, “he said.
A great question is whether the economy will enter a recession, a fear that grew well earlier this month after President Trump announced his most abrupt tariffs to date and the stock market was submerged.
Since then, some of those Dekens have undergone, and for now, Zillow is predicting that the economy will prevent a contraction. But by March 2026, the real estate company predicts that housing prices in the Metropolitan area of La-Orange County will be 2.4% lower than they are today, largely due to the increase in the inventory.
If rates and a Commercial War Push the economy in a recession, the prices of local homes could fall more, Green said.
“If we have serious tariffs, the economy will be really bad,” Green said. “It’s scary at this time.”
Housing prices by city and neighborhood
Readers note
Welcome to the Los Angeles Times real estate tracker. Each month we will publish a report with data on housing prices, mortgage rates and rental prices. Our reporters will explain what the new data means for Los Angeles and their surroundings and will help you understand what you can expect to pay for an apartment or home. You can read the Removal of Real Estate last month Gentleman.
Explore the prices and rental of the house for March
Use the tables below to search for sale prices and apartment rental prices by city, neighborhood and county.
Rental prices in southern California
In the last year, requesting rentals for apartments in many parts of southern California have also been reduced, but January fires in Los Angeles County could the downward trend.
Housing analysts have said that the increase in vacancies since 2022 had forced owners to accept less for rent. But the fires destroyed thousands of houses, suddenly pushing many people to the rental market.
The majority of the destroyed houses were single -family houses, and some housing experts and disaster recovery say they expect the largest for rent to be in larger units adjacent to the burns areas in Pacific Palisades and Altadena, with upward pressure for the units of the disaster zone.
In Santa Monica, which limits with the neighborhood of Palisades, the medium rent increased by 3.2% in March from a previous year, according to the data on the apartments list.
Throughout the city of Los Angeles, which includes the Palisades and many neighborhoods not adjacent to any fire, rentals increased only 0.38% last month.
Apartmentlist has no data for Altadena, but does it for the adjacent city or Passadena. Rentals increased 4.2% in March.
