Southern California real estate market cools in fall – CBS Los Angeles


LOS ANGELES (CBSLA) – The Southern California real estate market was booming this summer, and experts now say it calms down in the fall. Some new owners have been luckier than others while trying to weather the pandemic.

Composer Joep Spork has just bought a two-bedroom house in Altadena.

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“You really have to set your standards every two months because the prices differ so much,” Spork said.

The summer housing boom in Southern California put the median home price at $ 680,000 in August.

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Real estate agent Jennifer Eckert said once people get their shots they want to get out and travel due to buyer fatigue after things have been so competitive for so long.

“This is a transition to a somewhat standardized market, so maybe there were 10 to 12 or more deals, maybe you have two to five, still great, you still have solid buyers, it’s just not that frantic, ”Eckert said.

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Eckert added that she expects the market to pick up towards the end of the year based on the offers she has seen personally.

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