California Housing Market Sees Record Inventory and Rising Delistings
In major California markets, home inventories have surged to their highest levels since 2016, with active listings increasing significantly across regions like Los Angeles, San Francisco, and Orange County. Despite the rising supply, demand has sharply declined, evidenced by longer days on market and a 38% drop in pending sales, driven by high prices that have suppressed buyer interest and led to increased seller frustration and delistings.