New figures from the California Association of Realtors show home sales statewide dropped six-and-a-half percent in September compared with a year ago.
Southern California fared even worse, with sales falling more than nine percent.
Los Angeles County saw a nearly eleven percent decline.
But here’s the problem: home prices keep climbing.
The median price of a home in Los Angeles County jumped nearly 48 thousand dollars in just one month, reaching almost 995 thousand dollars.
In Orange County, the median price climbed to nearly $1.5 million dollars.
Statewide, the median price remains just under 900 thousand dollars. High mortgage rates and California’s persistent affordability crisis are keeping potential buyers on the sidelines.
And with prices this high, the biggest challenge isn’t finding a home. It’s finding one you can actually afford.
AI aided in compiling this story.
