Back in late 2023, I started telling my Southern California buyers something that felt a little counter-culture at the time:
👉 “If you can wait until mid-2024 to even begin to think of buying a home — do it.”
At that point, we were still seeing overheated competition, bidding wars, and multiple offers on almost everything that hit the market. Inventory remained tight and buyer fatigue was through the roof. I knew we needed a breather — and here’s why:
How the Market Finally Started to Flatten
As we moved into the middle of 2024, we began to see the market do exactly what I had been predicting:✅ Multiple offers cooled
✅ Over-asking sales started to slow
✅ Appraisal gaps and waived contingencies became far less common
✅ Pricing finally began to flatten after several years of near-vertical growth
We’d been long overdue for this correction.
During the first two years of the pandemic, we saw unprecedented gains in home values across Southern California — double-digit annual appreciation in many areas. It was unsustainable. The surge was driven by low interest rates, massive demand, and a dramatic shift in buyer behavior as people sought more space and lifestyle flexibility.
A Steady Market Adjustment Was Bound to Happen
Since mid-2024, we’ve been experiencing a steady, healthy market adjustment — the kind of correction that keeps the housing ecosystem balanced and stable for the long haul.
And here’s the key point I’ve been making to my clients:
➡️ You can always refinance a mortgage when rates go down.
➡️ You cannot renegotiate the price you pay for a home if you buy after prices have started climbing again.
Right now, the Southern California market offers something we haven’t seen in quite some time:
⭐ A window where buyers have negotiating power
⭐ Stabilized pricing that reflects true market value
⭐ More opportunities to protect against overpaying or entering negative equity territory
What Comes Next?
It’s impossible to say with certainty where interest rates will go from here — but many economists are now predicting that it could be years before we see the sub-4% rates of the past (if ever in our lifetimes). Meanwhile, home values in Southern California have finally adjusted back to pre-pandemic gains, but they are not likely to stay there for long, and in some neighborhoods, we are already seeing signs of ticking upward again.
In other words:
👉 This is the buying opportunity I was telling you about back in 2023.
If you’re thinking about getting into the market, or if you’ve been waiting for the right time — now is when it makes sense to act.
Curious how I help buyers avoid negative equity and navigate this market wisely?
Just reach out or type Formula 1 in the comments of my latest YouTube video — I’ll happily share the exact strategy I use with my clients.
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