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Southern California Weekly Real Estate Market Update
February Jobs Report Shows Steady Growth Amid Economic Uncertainty
The U.S. job market remained stable in February, with employers adding 151,000 jobs and unemployment edging up to 4.1%. While this is slightly below the three-month average of 200,000 jobs, it signals continued economic resilience. Healthcare led job gains with 52,000 new positions, followed by financial activities (+21,000) and transportation and warehousing (+18,000). Meanwhile, labor force participation dipped to 62.4%, its lowest level since early 2023, and a broader measure of unemployment—including discouraged workers—rose to 8%.
Trade Policy Changes Add Market Volatility
Economic uncertainty spiked in early March following the White House’s announcement of 25% tariffs on Mexico and Canada. This triggered a stock market sell-off before exemptions were granted, causing further fluctuations. The S&P 500 fell 2.7%, while the Nasdaq Composite dropped 4%, reflecting investor concerns over potential inflationary pressures and economic slowdowns. Business leaders remain cautious as they assess the long-term impact of these policy shifts.
Mortgage Refinancing Surges as Rates Decline
With mortgage rates falling to their lowest level in nearly three months, homeowners rushed to refinance. The Mortgage Bankers Association’s Refinance Index jumped 37% week-over-week, marking an 83% increase from the same period last year. Government-backed refinances surged 42%, while conventional refinances rose 34%. Purchase applications also climbed 9%, indicating increased buyer activity. If rates continue to trend downward, refinancing momentum could persist.
Market Outlook
Southern California’s real estate market remains resilient despite economic headwinds. With mortgage rates softening and buyer activity picking up, spring could bring increased momentum. However, affordability challenges and economic uncertainty will continue to shape market dynamics.
Stay tuned for next week’s update as we track key trends influencing Southern California’s housing market.
Hope everyone has a great St. Patrick's Day!
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Looking To Sell A Property That Needs Some Work?
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Does your property need some TLC or would having some improvements help you fetch top dollar? With our new listing concierge service we will coordinate getting your home all fixed up and ready to sell. We will manage the entire process of getting your home ready and all decked out with the latest trends, designs and materials. Our contractors are all licensed, bonded, and insured and do excellent work. Best of all, there is no money due up front. This saves you the time and expense of interviewing contractors, managing the work, and all the headache that goes along with fixing up a property. This enables our clients to position their property as "move in ready" to capture maximum buyer interest.
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We have negotiated great terms with our contractors and they don't get paid until the work is done and the home is sold.
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3603 E Hungerford St.
Long Beach, CA 90805
2 Bed + Bonus Room | 1 Bath | 1064 SF | $799,900
Charming 2-Bedroom + Bonus Room Home in a Quiet Long Beach Neighborhood. This beautifully updated home features fresh exterior paint, a new roof, and central AC. The light-filled living room boasts wood floors, recessed lighting, and an inviting atmosphere, while the updated kitchen includes granite counters, stainless steel appliances, and modern cabinetry. A spacious bonus room with a stone fireplace offers versatility as a family room or 3rd bedroom. The expansive backyard with a patio is perfect for entertaining or adding an ADU, and the long driveway with a finished 1-car garage provides plenty of parking. Located near Lakewood Mall and local amenities, this home is a must-see!
Eligible for a $50,000 down payment grant from City National Bank!
OPEN HOUSES
Saturday (3/15) & Sunday (3/16)
12:00 - 3:00pm
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225 W 6th St #515
Long Beach 90802
1 Bed | 1 Bath | 547 SF | $299,900
Top-floor end unit condo in the heart of Long Beach, offering privacy and city views! This nicely updated home features an open living area with a private balcony, a stylish kitchen with butcher block countertops, and a bright bedroom with two mirrored closets. Located near top attractions like the Long Beach Convention Center and Shoreline Village, with easy access to dining, shopping, and transportation.
OPEN HOUSES
Saturday (3/15) 12:00 - 2:00pm &
Sunday (3/16) 12:00 - 3:00pm
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15147 Caravaca Rd.
La Mirada, CA 90638
3 Bed | 2 Bath | 1350 SF | $899,900
Charming 3-Bedroom Home with Pool Near La Mirada Golf Course!
This beautifully updated home features an open floor plan, a spacious kitchen with granite counters and a 5-burner gas stove, and a cozy living room with a fireplace and built-in shelving. Modern flooring, fresh paint, recessed lighting, and crown molding add style throughout. The backyard is perfect for relaxing or entertaining, with a covered patio and sparkling pool with a slide. New roof and gutters (2022), central heat & AC. Conveniently located near top schools, parks, golf, and local attractions!
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223 Elm Ave.
Long Beach 90802
2 Bed | 3 Bath | 1570 SF | $799,900
Enjoy modern luxury living in this stunning 2019-built townhome at The Huxton in the East Village Arts District. This inviting home features an open-concept layout perfect for entertaining, with high ceilings, large windows, recessed lighting, and beautiful flooring throughout. The gourmet kitchen boasts quartz countertops, soft close cabinets, and upscale appliances by Bertazzoni and Bosch. Upstairs, two primary suites offer walk-in closets and luxurious bathrooms. Enjoy city views from the spacious rooftop deck – ideal for relaxing or BBQs. Eco-friendly features include owner-owned solar panels and a garage pre-planned for EV charging. Located in a secure, gated complex, you’ll be steps from the waterfront, dining, cafes, and nightlife. VA Approved.
Eligible for a $50,000 down payment grant from City National Bank!
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3817 W Compton Ave.
Orange, CA 92868
4 Bed | 2 Bath | 1316 SF | $985,000
Beautiful Single-Story Pool Home with Modern Upgrades in Orange, CA! Discover this stunning 4-bedroom, 2-bathroom home situated on a spacious 7,598 sq. ft. lot in a fantastic Orange neighborhood. This thoughtfully updated home offers everything you need for comfortable living and entertaining. Located in a friendly neighborhood, this home offers unbeatable access to major freeways (I-5 and 22), top destinations like UCI Medical Center, Angels Stadium, Disneyland, Old Towne Orange, The Outlets at Orange, Chapman University, Honda Center, and GardenWalk. This is the perfect opportunity to live in a vibrant area while enjoying a tranquil and well-appointed home.
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488 E. Ocean Blvd #1102
Long Beach, CA 90802
1 Bed | 1 Bath | 600 SF | $545,000
Stunning 11th-Floor Ocean View Condo in the Iconic Aqua Towers! Enjoy breathtaking ocean, marina, and city views in this stunning corner-unit high-rise. Featuring floor-to-ceiling windows, high ceilings, slate flooring, granite countertops, and a wrap-around balcony, this condo offers the ultimate in coastal living. A rare private enclosed garage near the elevator adds extra convenience. Resort-style amenities include 24-hour security, pool, spa, sauna, fitness center, and clubhouse. Just steps from the beach, shopping, dining, and entertainment—don’t miss this incredible opportunity!
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3824 Pacific Ave.
Long Beach 90807
4 Bed | 3.5 Bath | 2646 SF | $1,710,000
This stunning, custom-built single story Mediterranean style pool home was completely rebuilt in 2007 and features 4 bedrooms and 3 1/2 baths. Set amidst towering palms on one of the city's most prestigious avenues. A Saltillo-tiled walk leads to custom-made iron doors entering into the grand reception foyer beneath soaring cathedral ceilings. Exquisite 3/4 solid oak hardwood flooring flows throughout. The awe-inspiring great room boasts a 12' high cathedral ceiling, crown moldings and a gas fireplace. Custom designed gourmet kitchen features classic cherry wood cabinetry, granite counters, walk-in pantry, 5 burner gas cooktop, Stainless dual ovens, Built-in ref/freezer, dishwasher, a large island with seating for 4 and a separate dining area. Outside the kitchen is a fabulous raised lighted deck leading to the newly built pool area. A unique roofed but open-air lounge perfect for indoor/outdoor living and entertaining. There is also a full pool bath located next to the open family room and pool.
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700 E Ocean Blvd #1706
Long Beach 90802
2 Bed | 2 Bath | 1080 SF | $840,000
Experience luxury coastal living with breathtaking ocean views from every room in this beautifully remodeled high-rise condo at the iconic International Tower. This light-filled unit features an open floor plan, updated kitchen with sleek cabinets, marble countertops, and stainless steel appliances, and a spacious primary suite with a luxurious soaking tub. Enjoy panoramic vistas from the large wrap-around balcony, plus access to top-notch amenities, including a pool, fitness center, and 24-hour security, all just steps from the beach and vibrant local dining.
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4859 Autry Ave.
Long Beach 90808
3 Bed | 2 Bath | 1594 SF | $985,000
Charming 3-Bedroom, 2-Bath Lakewood Village Home on a Picturesque Tree-Lined Street! This beautifully maintained home blends classic appeal with modern upgrades. Step into a bright living and dining area with refinished original hardwood floors and a bay window. The spacious kitchen boasts ample storage, a custom breakfast bar, and opens to a formal dining and family room. The primary suite offers a peaceful retreat with an updated bathroom. Additional highlights include central heat and AC, dual-pane windows, bamboo flooring, and a detached 2-car garage. Conveniently located near parks, shopping, and dining, this home provides a comfortable and connected lifestyle.
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