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Economic Growth Slows, Fed Holds Steady & Housing Faces New Challenges
The latest economic reports suggest the U.S. economy is still expanding, but at a slower and more uneven pace. The Federal Reserve left interest rates unchanged, inflation remains a concern, and higher mortgage rates continue to challenge homebuyers. Despite these headwinds, consumer spending has remained resilient, rental demand is improving, and California's housing market continues to benefit from limited inventory. As we move through the second half of 2026, mortgage rates and inflation will likely remain the biggest factors influencing both buyers and sellers across Southern California.
Economy Continues to Grow, But Momentum Slows
The U.S. economy expanded at a 1.5% annual rate during the second quarter, down from the previous quarter but still signaling continued growth. Consumer spending remained a bright spot, supported in part by larger tax refunds, while business investment also contributed positively. However, higher inflation, softer government spending, and ongoing global uncertainty continue to temper the economic outlook.
Federal Reserve Holds Rates Steady
The Federal Reserve kept its benchmark interest rate unchanged for the fifth consecutive meeting, signaling it remains focused on bringing inflation back toward its long-term target. While most policymakers supported holding rates steady, several Fed officials favored another rate hike, highlighting ongoing concern that inflation remains stubbornly elevated. As a result, mortgage rates are likely to remain volatile in the months ahead.
Homebuilding Remains Under Pressure
Construction activity weakened again in June as higher borrowing costs continued to weigh on residential development. Spending on new single-family homes declined, while multifamily construction also softened. With mortgage rates remaining near yearly highs, builders are expected to remain cautious until financing conditions improve.
Rental Market Continues Gradual Improvement
The apartment market continued its slow recovery during July, with rents posting another modest monthly increase while vacancy rates remained stable. Although rents remain slightly below last year's levels nationally, several California markets—including San Francisco, San Jose, and Fresno—continue to experience some of the strongest rent growth in the country. Strong rental demand reinforces the ongoing affordability challenges facing many prospective homebuyers.
What This Means for Southern California Buyers & Sellers
While the economy has cooled from earlier in the year, it continues to expand, and California's housing market remains supported by limited inventory. Higher mortgage rates may continue to slow buyer activity, but well-priced homes in desirable neighborhoods across Long Beach, Orange County, and Southern California are still attracting serious buyers. As always, local market conditions vary significantly by neighborhood, making local expertise more important than ever.
Whether you're considering buying, selling, or simply want to understand how current market trends affect your home's value, staying informed is the key to making confident real estate decisions.
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700 E. Ocean Blvd #1102
Long Beach, CA 90802
2 Bed | 2 Bath | 1,084 SF | $499,990
Spectacular Panoramic City Views from the Iconic International Tower! Experience luxury high-rise living in this beautifully updated 2-bedroom, 2-bath condo perched in one of Long Beach's most recognizable architectural landmarks. Floor-to-ceiling windows fill the home with natural light and frame breathtaking panoramic views of the city skyline. Step onto the expansive wrap-around balcony from the living room or either bedroom to enjoy stunning sunrises and evening city lights. Designed for both everyday living and entertaining, the remodeled kitchen features elegant white cabinetry and striking stone countertops. The flexible floor plan includes two spacious primary suites each with direct balcony access and their own bathrooms, making it ideal for guests, multigenerational living, or a private home office. Additional features include modern heating and air conditioning, plus an in-unit washer/dryer, and all appliances included. Residents enjoy resort-style amenities including 24-hour guarded security, controlled access, a sparkling pool, fitness center, recreation room, billiards room, barbecue area, meeting room, beautifully maintained grounds, guest parking, and secure garage parking. HOA dues include water, trash, sewer, basic cable and High Speed Internet. Beyond your front door awaits the very best of the Long Beach waterfront lifestyle. Walk or bike along the shoreline, explore Shoreline Village and Rainbow Harbor, enjoy waterfront dining, or spend the afternoon at the Aquarium of the Pacific. Throughout the year, Long Beach hosts concerts, festivals, farmers markets, and internationally recognized events, including the Grand Prix of Long Beach. The Pike Outlets, Belmont Shore, marinas, beaches, and miles of coastal pathways are all just minutes away, making every day feel like a vacation. This is more than a beautiful condominium, it's an opportunity to own a turnkey home in one of Southern California's most desirable waterfront communities, where timeless architecture, modern upgrades, and an unmatched coastal lifestyle come together. FHA and VA approved. Don't miss this rare opportunity to own a premier view residence in one of Long Beach's most iconic buildings.
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2601 E. Ocean Blvd #807
Long Beach, CA 90803
2 Bed | 2 Bath | 1,016 SF | $957,550
Amazing ocean views will take your breath away in this highly upgraded, TOP FLOOR, END UNIT 2 bedroom, 2 bathroom luxury condo with 1,016 square feet of well-designed living space and 2 separate parking spaces. A dramatic gallery-style entryway complete with LED-lit art niches, textured wave tiled walls, inlay flooring, and uplighting within the unique ceiling welcome you to this home. At the end of this striking entry sits a bar with wine refrigerator and glass front cabinets. The sleek kitchen is equipped with a Thermador induction cooktop and oven with rotisserie feature, countertops that just don’t seem to get stained, glossy, woodgrain styled cabinetry, and a breakfast bar ideal for casual dining. The open concept living room showcases a modern fireplace, ambient lighting, mirrored accent walls, and two accordion balcony doors that frame the incredible 270 degree ocean and city views while filling the home with natural light. The spacious primary suite is highlighted by an architectural ceiling, French doors, and Juliette balcony with views of Signal Hill - especially pretty at night. The custom walk-in closet with abundant built ins leads to a serene bathroom with a large shower featuring multiple shower heads and body sprays, marble vanity, touch light smart mirrors and a bidet. The guest bedroom enjoys equally beautiful city sights through the French doors, an art niche, and mirrored double closets. The lovely second bathroom features quartz countertops, oversized tile flooring and a shower/tub combo with accent glass tiles. The oversized tile extends throughout the main living spaces, while both bedrooms have luxury vinyl flooring. Access to the in-unit European laundry machine is located in the hallway closet that also houses the tankless water heater. Additional amenities include a mini-split unit with heat and air conditioning, surround sound in the living room, and a desirable location within the building set back from the street so that the unit stays quieter.
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13631 Richardson Way
Westminster, CA 92683
3 Bed | 1.5 Bath | 1,128 SF | $999,999
Beautifully maintained 3-bedroom / 1.5-bathroom home offering a blend of comfort, functionality, and inviting outdoor living. The property features generous RV parking with an oversized driveway (36’7” x 24’11”), perfect for recreational vehicles, extra cars, or toys. Inside, enjoy engineered hardwood flooring, classic wood shutters, open beam ceilings, dual split A/C, ceiling fan, rustic kitchen with real wood cabinets, interior laundry room, and a cozy wood-burning fireplace. A bright sunroom and adjoining bonus room provide flexible space for an office, studio, or relaxation retreat. The private, landscaped backyard is ideal for entertaining, complete with a shaded patio cover, custom tiled porch matching the sunroom, plenty of green grass, rose bushes, shrubs, and a mature avocado tree. Exterior has been freshly painted with new vent screens, and the upgraded shed with dual pane white vinyl windows adds valuable additional storage, along with the spacious two-car garage. Location is also close to freeways, shopping, and dining!
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3672 Montego Dr.,
Huntington Beach, CA 92649
3 Bed | 3 Bath | 1,818 SF | $1,199,000
WATERFRONT FIXER WITH INCREDIBLE POTENTIAL! First time on the market since this Seagate home was built. This mostly original Davenport model with 3 bedrooms and 3 bathrooms presents a rare opportunity to create your ideal Huntington Harbor home. An entry featuring unique staircases and a skylight leads to a spacious dining room and step down living room. The living room showcases a classic brick fireplace and a wall of glass (sliding door and window) that opens to a waterside patio with lagoon views - perfect for entertaining friends and family. A gate at the end of the patio provides direct water access to launch your kayak or paddle board. Back in the home, the kitchen layout includes abundant cabinetry, ample counter space and the washer/dryer. Also on the first floor is a bedroom with custom built shelves and a ladder accessible loft plus a 3/4 guest bathroom. Upstairs, the spacious primary suite with vaulted ceiling offers a private balcony overlooking the water, large closet, and an en suite bathroom with dual vanities. The last bedroom and bathroom are also located on this level. A third story bonus living area is accessed by a spiral staircase and has a wraparound floor plan providing a great flex room for a work from home office, gym, or whatever best suits your needs. A detached, two-car garage is ideally situated close to the home. The beautiful Seagate community offers multiple tennis courts, pickleball, pools, clubhouses, lush greenbelts and a resort-like feel.
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258 Argonne
Long Beach, CA 90803
4 Bed | 3 Bath | 3,004 SF | $2,250,000
Rarely available, this beautiful Tudor Revival is located in the coveted Belmont Heights Estates. Built in 1928, this home spans over 3,000 square feet with 4 bedrooms and 3 bathrooms on a 6,361 square foot lot including a 4-car garage. An inviting entry with original wood detailing opens to a breathtaking living room defined by soaring ceilings, exposed decorative timber trusses, and an interior balcony. The remodeled kitchen blends modern amenities while maintaining a timeless design, featuring a Wolf range, stainless steel appliances, a walk-in pantry, abundant cabinetry and prep space, a peninsula with seating for casual dining, a dedicated coffee station, and the first of two washer/dryer locations. An arched opening leads to the sunlit dining room, complete with a custom buffet and elegant wallpaper. A separate family room with built-ins provides a comfortable space overlooking the front and back yards, while a dedicated office and a period-style three-quarter bath complete the first floor. Upstairs, natural light floods all 4 bedrooms, each with walk-in closets, and 2 vintage bathrooms. A central flex space—ideal as a playroom, teen lounge, or den—separates the bedrooms and adds versatility. Set back from the street, the home features a large front yard and a backyard patio perfect for entertaining or enjoying the wonderful Long Beach weather.
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700 E. Ocean Blvd #1501
Long Beach, CA 90802
2 Bed | 2 Bath | 1,084 SF | $550,000
Welcome to International Tower, one of Downtown Long Beach's most iconic Mid-Century Modern landmarks. This beautifully remodeled 15th-floor residence offers 2 bedrooms, 2 bathrooms, and 1,080 square feet of sophisticated coastal living. Enjoy peekaboo ocean views, marina views, sparkling city lights, and a spacious wraparound balcony that invites you to relax and enjoy the vibrant waterfront setting. Designed with quality and attention to detail, the home features gorgeous hand-fired Italian tile flooring throughout, extending seamlessly onto the wraparound balcony to create a true indoor-outdoor living experience. The designer kitchen showcases waterfall stone countertops, sleek contemporary cabinetry, stainless steel appliances, and a breakfast bar perfect for casual dining or entertaining. Custom blackout and sheer window coverings provide both privacy and elegance while allowing you to control the abundant natural light throughout the home. A rare and highly desirable feature, this residence is one of only a handful of homes in the building equipped with air conditioning, offering year-round comfort. The flexible floor plan includes two spacious primary suites, making it ideal for guests, multigenerational living, or a private home office. Residents enjoy resort-style amenities including 24-hour guarded security, controlled access, a sparkling pool, fitness center, recreation room, billiards room, barbecue area, meeting room, beautifully maintained grounds, guest parking, and secure garage parking. Beyond your front door awaits the very best of the Long Beach waterfront lifestyle. Walk or bike along the shoreline, explore Shoreline Village and Rainbow Harbor, enjoy waterfront dining, or spend the afternoon at the Aquarium of the Pacific. Throughout the year, Long Beach hosts concerts, festivals, farmers markets, and internationally recognized events, including the Long Beach Grand Prix.
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3142 Quail Run Rd
Rossmoor, CA 90720
3 Bed + Den | 3.5 Bath | 2,752 SF | $1,835,000
Welcome to this exceptional opportunity in the highly sought-after community of Rossmoor! Offering 2,752 square feet of living space, this charming two-story home presents incredible value and endless potential for buyers looking to personalize a home in one of Orange County’s most desirable neighborhoods. Lovingly maintained by the same family for more than 50 years, the home features 3 bedrooms, a large den, and 3.5 bathrooms. Located on a beautiful tree-lined street within the award-winning Los Alamitos School District, this home welcomes you with a spacious foyer, beautiful wood floors, and a large light-filled living room with cozy fireplace. The remodeled kitchen features granite countertops and stainless steel appliances and flows seamlessly into the formal dining area overlooking the backyard — perfect for entertaining and everyday living. The versatile downstairs layout includes one bedroom plus a large den with a fireplace and attached full bath, ideal for a family room, guest suite, or home office. Upstairs, you’ll find two spacious primary suites with vaulted ceilings and ensuite bathrooms. The main primary suite offers dual walk-in closets and a large bathroom with dual sinks, soaking tub, and walk-in shower. Step outside to enjoy the private backyard retreat featuring a sparkling pool and shaded patio, perfect for relaxing or hosting gatherings. Enjoy all that Rossmoor has to offer, including nearby Rossmoor Park with pickleball courts, tennis courts, basketball, softball fields, and playgrounds, plus close proximity to Lee Elementary, Weaver Elementary, Oak Middle School, shopping, and dining. This is a rare opportunity to create your dream home in one of Orange County’s premier neighborhoods.
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205 Ocean Pl
Seal Beach, CA 90740
4 Bed | 4.5 Bath | 3,704 SF | $4,600,000
Welcome to a truly exceptional waterfront residence within a recently built coastal enclave by Shea Homes, completed in 2021, where modern sophistication meets intentional design and elevated craftsmanship. This exquisite 4-bedroom, 4.5-bathroom home spans approximately 3,704 square feet, offering a seamless blend of comfort, style, and functionality in one of Seal Beach’s most refined settings. Enjoy ocean views from both levels, with the main living level positioned on the second floor, thoughtfully designed to maximize natural light and capture the coastal setting. A beautifully appointed living area flows effortlessly into a chef’s kitchen featuring premium Wolf appliances, custom cabinetry, and an oversized island ideal for both everyday living and elevated entertaining. Expansive sliding glass doors create a seamless indoor-outdoor living experience, inviting in ocean breezes and the sound of the water. Two additional en-suite bedrooms on this level provide comfort and privacy, while an expansive deck extends the living space outdoors. The first floor is anchored by a spacious primary suite designed as a private waterfront retreat, complete with a spa-inspired bathroom featuring a soaking tub, dual vanities, and a generous walk-in closet. This level also includes an additional bedroom, a full bath, and a separate living area with water views, ideal for a media room, office, or lounge. Ideally located near the beach, a serene walking park, and the shops and dining of Main Street, this home offers a rare opportunity to experience refined coastal living at its best.
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