The Southern California housing market is currently experiencing mixed trends. Home sales have decreased significantly by 16.5% month-over-month, though there is an 8.7% increase year-over-year. Prices have seen a modest rise of 3.1% compared to last year, with the median price at $850,000, but a slight drop of 1.7% from October. Limited housing supply continues to create competition, while rising interest rates and economic uncertainty are impacting buyer activity. The market is shifting, offering buyers slightly more negotiating power, but sellers must adjust expectations.
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