Southern California Housing Market Forecast 2022 & 2023
Southern California Housing Market Forecast 2022 & 2023
Abstract
Southern California had the biggest annual drop in sales of single-family homes at 32.6%. San Bernardino led the pack with the highest sales drop of 37.2% over last year. The California median home price is forecast to drop 8.8% to $758,600 in 2023. The market will fall to $831,460 in 2022. The price of a typical home in Orange County. The median price is still above $1,200,000. The average home in southern California is still over $100,000, according to a Zillow home price measure. A significant number of industry professionals maintain that a scenario involving slower development is the one that is most likely to occur. There are very few well-known analysts who anticipate price declines. IfOverall sales prices are to fall in the future, this is the first step that must be taken.