Southern California Real Estate Employment Trends: A Detailed Analysis by County

Real estate hiring in Southern California saw a significant boost in May, with a 39% increase in staff additions compared to the seasonal norm. According to data from the Employment Development Department (EDD), the combined property-linked employment in Los Angeles, Orange, Riverside, and San Bernardino counties reached 837,800 in May, marking a 5,600 job increase for the month.

While the short-term hiring trends are positive, the longer-term growth in the real estate sector seems sluggish. In the past year, real estate work in the region grew by 5,900 positions, a 0.7% increase, which is significantly lower than the average hiring pace of 14,300 jobs since the Great Recession.

Despite the challenges, real estate remains a significant player in the local job market, accounting for 10.5% of employment in May 2024. The industry’s hiring in May equaled 28% of all new local jobs for the month, highlighting its importance in the region’s economy.

Key real estate-related employment niches in Southern California also saw growth in May. Trade construction specialists, building services, and building supplies all reported job increases, contributing to the overall positive hiring trend in the sector.

Geographically, Los Angeles County, Orange County, and the Inland Empire all saw increases in real estate jobs, with Orange County leading the way with a 1.27% one-year gain. Despite the positive momentum, real estate jobs in these areas are still below their post-Great Recession highs, indicating room for further growth in the sector.

Overall, the real estate industry in Southern California is showing signs of recovery and expansion, with increased hiring and a significant contribution to the local job market. As the region continues to navigate economic challenges, the resilience of the real estate sector is a positive indicator for future growth and stability.