Los Angeles County homebuying cooled by 23% vs. June 2021 as house hunters were scared off by 42% higher house payments.

Across Southern California, 20,289 single-family, condominium, existing and newly constructed homes — sold in six counties, down 1% for the month, and down 25% over the past year, says a DQNews report. The region’s median price of $750,000 was down 1% for the month, and up 11% over 12 months.

My trusty spreadsheet found similar signs of a swiftly slowing market in the DQNews numbers on closed transactions in Los Angeles County in June …


Total: 6,628 Los Angeles County residences sold. This was the No. 3 slowest June of the 35 since 1988.

One-month change: 1% increase from May. Since 1988, sales have fallen in June 21% of the time with an average 6.0% increase from May.

12-month change: 23% decrease — No. 34 biggest decline since 1988 (or only 8% worse months.)

Year-to-date: Off 13% vs. 2021.

Pre-pandemic: June sales were 9% below the 7,299 average June, 2010-2019.


The median: $860,000 countywide for all homes — flat for the month and up 8.9% in a year. Record L.A. high? $865,000 set in April.

One-month trend: Since 1988, a typical June had prices dip 77% of the time with with an average 1.5% gain.

One-year trend: Smallest increase in 22 months. Latest gain tops 64% of all 12-month periods since 1988.

Downpayment: $172,000 at 20%, up $14,000 in a year.

Pandemic era? 14 price records have been broken since February 2020. The median’s $240,000 increase equals a gain of $11.71 every hour over these 28 months.

Key slices

Existing single-family houses: 4,569 sold, down 22% in a year. Median of $935,000 was up 9% over 12 months.

Existing condos: 1,807 sales, down 23% over 12 months. Median of $710,000 was up 12% in a year.

Newly built: Builders sold 252 new homes, down 37% in a year. Median of $1,005,000 was up 31% over 12 months.

Builder share: 3.8% of sales vs. 4.7% a year earlier.