Inflation Report 3/14/2024

The current prediction for inflation in the United States sees a steady state, with the annual inflation rate likely stabilizing at 3.1% due to a mix of factors including a surge in gasoline prices . In the context of the Southern California housing market, the median sold price remains stable at $790,000, reflecting a mixed overall home price trend as of January 2024. The stability in the median sold price, amidst a backdrop of modest inflation, suggests a resilient real estate market. Additionally, home prices in California are predicted to rise by 6.2% to a record median price of $680,300 in the next year, indicating that despite the inflationary pressures, the housing market, particularly in Southern California, continues to exhibit strength and potential for growth .