June’s median home price remained tied with the all-time high of $775,000 reached in April, new CoreLogic figures show.
Realtor Russell Walsh checks out a Dana Point home during an open house on Thursday, Aug. 1, 2024. Southern California home prices are holding at all-time highs despite slow sales, CoreLogic figures show. The Southern California housing market slowed in June, with the sales tally for that month hitting an all-time low even as home prices matched the all-time high reached in April.
Just 87,687 homes changed hands so far this year, CoreLogic numbers show. The only years that had a slower first half were 2008 and 2023.After falling to an 11-year low by December, active Southern California listings jumped 38% to 50,934 in June, Redfin numbers show. That’s the highest number of homes on the market in almost two years.
More buyers also may have been lured to the market by a dip in mortgage rates in June. The typical house payment for a median-priced Southern California home declined by more than $1,000 from May to $4,092 a month after 30-year mortgage rates fell to a June average of 6.9%.
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