Coming off an explosive first three quarters of the year, it’s not a stretch to assume that the SoCal housing market may begin to slow as we head into the end of 2021. But how exactly will the prices and sales shake out?
The Orange County Register’s business columnist Jonathan Lansner, always a trusted resource for real estate data, has taken 30+ years of local history and is offering up some predictions for the winter months.
Among the six Southern California counties, all had a decline in sales over 33 years in this “off” season. Per Lansner, only Riverside and San Bernardino counties averaged half-year price gains once September begins.
Here’s what Lansner suggests may be ahead in the local market:
Los Angeles County: Possible 2.4 percent price drop and 16 percent fewer sales over the next six months.
Orange County: A minimal 1 percent price drop and 18 percent fewer sales.
Riverside County: A 1.7 percent price gain but 15 percent fewer sales.
San Bernardino County: A 0.6 percent price gain against 11 percent fewer sales.
San Diego County: Predicted to have the smallest price drop at 0.8 percent, and 18 percent fewer sales.
Ventura County: 3.1 percent price drop and 17 percent fewer sales.
For more on the projected cooldown, click here.