Southern California Real Estate Job Market Booming: Adds 21,700 Workers in Past Year

Southern California’s real estate sector is booming, with the addition of 21,700 new workers in the past year. This hiring pace is faster than the overall job market in the region, showing the strength and growth of the real estate industry.

According to data from Los Angeles, Orange, Riverside, and San Bernardino counties, there were a total of 803,700 property-linked employment positions in November 2023. While there was a slight decrease of 1,200 jobs for the month, the sector saw a significant increase of 21,700 positions over the past 12 months, representing a 2.8% growth rate. In comparison, all other industries in the region added 115,300 jobs, a 1.6% gain.

Construction, a key employment niche within the real estate sector, added 300 workers in the month and saw an increase of 18,800 workers over the past year, a 5% gain. This sector has been a major contributor to the overall growth of the real estate industry in Southern California.

Real estate-related jobs accounted for 9.8% of local employment in November 2023, but made up 15.8% of all hires in the region for the year. Since the end of the Great Recession in 2010, real estate-linked jobs have represented 9.7% of all jobs in Southern California and 12.2% of local hiring.

The breakdown of real estate-related employment by niche and metro area shows the strength and diversity of the industry in Southern California. With Los Angeles County, Orange County, and the Inland Empire all experiencing growth in real estate jobs, the sector continues to be a significant driver of economic activity in the region.

Overall, the increase in real estate jobs in Southern California is a positive sign for the local economy, indicating a strong and growing market for property-related services and employment opportunities.