Long Beach/Southern California Real Estate: November Active Listings Report in Five So Cal Counties

11/15/2021

November Active Listings Report in Five So Cal Counties

No housing market crash for 2022, at least not in terms of price (believe it or not!).

But there is a huge continuing problem between supply and demand-- very limited supply and huge demand brought on by very low interest rates. In beginning of 2019 there were the most homes (40,000 homes) on market since 2012, but lowered interest rates that year started off low inventory in 2020 (29,000 homes) with a big dip after the pandemic, and then the lowest inventory in years in 2021 (17,000 homes), and will continue this way into 2022. We should have more than double the inventory we have right now, per last year's inventory levels. The five counties in Southern California are all down in total home inventory between 3% and 5%, with Orange County at its lowest inventory ever (just over 1700 homes on market right now--on (l1/12/221)**

(Julia's Update Note: Active listings in the MLS on 11/15/21: San Bernardino County: 2515 single family homes; San Diego: 1550 single family homes; Orange County: 1182 homes; Los Angeles County: 5000+ homes; Riverside County: 2856 homes.)

Interest rates will probably stay under 3.5%, and it will still be a seller's market. As long as rates stay low, the market will favor sellers, a trend that may well continue all through 2022. Home values will continue to rise. And see the CAR 2022 Market Report Summary, an upward increase of 5.2% is predicted with total downward trend in number of sales for next year.