Southern California’s red-hot homebuying pace catches a chill

Ventura had the biggest one-month dip — off 32% and down 18% in a year, followed by San Diego (off 31% month, 7% year); Los Angeles (off 29% month; 6% year); Riverside (off 27% month, 2% year); Orange (off 26% month, 15% year); and San Bernardino (off 23% month, 10% year). On a yearly basis, the median price was up for the 115th time out of the last 118 months — that’s nearly 10 years. At current rates, a buyer with 20% down would have paid $2,379 monthly on January’s $687,000 median vs. a year earlier’s $1,938 house payment on the $595,000 median.

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