Southern California had a pretty strong showing in the California Association of Realtors’ latest existing-home sales report, despite seeing sales fall by 22.3 percent compared to 2022. Between April and May, the six-county region saw home sales jump by 19.4 percent.
Los Angeles and Orange County saw the largest rebounds, with homes sales up 25 percent and 24.4 percent, respectively, compared to April 2023. The median sold price also increased, albeit slightly, in both counties, hitting $744,700 in L.A. and $1,256,500 in the O.C.
Existing-home sales in Riverside County had the smallest gains in SoCal last month, though still up 12.7 percent compared to the month prior.
San Diego County experienced a 14.8 percent home sales increase in May, while the median sold price there inched up 0.5 percent to $935,000.
For the state as a whole, existing-home sales in the state were up 9.8 percent in May, hitting the highest level California has seen in eight months.