Southern California lost 4,600 real estate tasks in March

Southern California managers in real estate-related markets cut personnel in March amid damp weather condition and a slow property market.

Property work in Los Angeles, Orange, Riverside and San Bernardino counties was 763,100 in March, off 4,600 for the month and off 10,100 over 12 months-- or a 1.3% 1 year drop.

March is normally a good month genuine estate works with. In pre-pandemic 2015-19, 3,460 jobs were added in this month usually.

Across Southern California, all other markets had 7.2 million workers-- up 22,900 tasks from February. Over 12 months, non-real estate jobs are up 167,900, or a 2.4% gain. Property's share of regional work was 9.6% last month.

Here are essential real estate-related employment specific niches in Southern California and March jobs ……. Construction: 359,200 employees in different trades-- off 3,300 for the month and off 9,100 over 12 months, or a 2.5% drop. The average March had a 3,100-job increase. Wet weather can slow or stop building and construction tasks.

Real estate services: 137,700 people managing deals-- off 1,200 for the month and up 1,000 over 12 months, or a 0.7% gain. The average March had 160 job losses. Renting and buying of residential or commercial properties has slowed.

Building services: 109,500 tasks in business home operations-- up 400 for the month and up 2,600 over 12 months, or a 2.4% gain. The average March had 220 job losses. A go back to office work helps this niche.

Financing: 103,800 folks in different credit work-- off 1,000 for the month and off 4,100 over 12 months, or a 3.8% drop. Average March had a 340-job boost. Thanks to soaring mortgage rates, this specific niche remains 11,200 jobs listed below pre-pandemic levels.

Structure materials: 52,900 sellers of devices and materials-- up 500 for the month and off 500 over 12 months, or a 0.9% drop. Average March had a 640-job boost. Did slower construction lower supply purchases?
Here's the breakdown, geographically speaking …….

Los Angeles County: 360,600 real estate tasks-- off 2,400 for the month and off 5,600 over 12 months, or a 1.5% 1 year drop. An average March in 2015-19 had 1,040 hires. Home jobs equal 7.8% of all L.A. workers last month.

Orange County: 224,500 property tasks-- off 200 for the month and off 1,500 over 12 months, or a 0.7% 1 year drop. A typical March in 2015-19 had 760 hires. Property jobs equivalent 13.3% of all O.C. workers last month.

Inland Empire: 178,000 realty tasks-- off 2,000 for the month and off 3,000 over 12 months, or a 1.7% 1 year drop. A typical March in 2015-19 had 1,660 hires. Residential or commercial property jobs equal 10.7% of all I.E. employees last month.

Jonathan Lansner is the business writer for the Southern California News Group. He can be reached at jlansner@scng.com.