Are Southern California home prices finally beginning to crumble?
According to data from real estate tracker Attom, February’s $800,000 median sales price for the six-county region was down 2% compared with a year earlier. Attom tracks sales of houses and condos, both existing homes and newly constructed.
My trusty spreadsheet’s review of these statistics found that February’s price decline was the largest since May 2023.
Remember, February was before all the economic anxieties created by the Iranian conflict. Still, the business climate has been wobbly for many months, particularly as slow local hiring has weakened consumer confidence.
Despite the turbulence in the business climate, the upswing in local home prices continued through 2025. Before the 1% year-over-year dip in January 2026, prices hadn’t fallen for 31 months.
Yes, this price decrease is only a modest reversal. Even with the recent drops, the Southern California median price is a mere 4% below its June 2025 peak of $830,500.
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