Newport
Beach
in
particular
shares
many
similarities
with
the
mostly
destroyed
enclave
of
Pacific
Palisades,
making
it
a
popular
destination
among
displaced
residents.

In
Newport
Beach
the
median
list
price
for
a
single
family
home
is
$5.995
million,
compared
to
$6.0
million
in
Pacific
Palisades
in
late-December
2024
prior
to
the
outbreak
of
the
fires,
according
to
data
from


Altos. 

The

Homes.com
report
also
expresses
concern
over
how
the
influx
of
people
into
Orange
County
from
Los
Angeles

will
impact
home
prices
in
the
area.
The
median
list
price
in
Orange
County
hit
a
peak
of
$2.1
million
in
2024,
up
from
a
peak
of
$1.9
million
in
2023,
according
to
Altos
data.

“The
Los
Angeles
wildfires
will
only
increase
demand
across
the
Southern
California
region,
amplifying
the
trend
of
people
moving
out
of
Los
Angeles
and
into
Orange
County,
further
exacerbating
the
region’s
already
tight
housing
availability,”
the
report
said. 

According
to

Homes.com
data,
apartment
vacancy
rates
in
Los
Angeles
County
are
the
third
lowest
in
the
country
at
5.2%.
However,
Orange
County
and
Newport
Beach
are
even
worse
at
4.1%
and
2.1%,
respectively.
With
displacement
due
to
the
wildfires
driving
even
more
people
into
those
regions,

Homes.com
is
expecting
to
see
those
vacancy
rates
drop
even
further. 

As
rental
inventory
continues
to
decrease,

California’s
Department
of
Justice
is
cracking
down
on
price
gouging.
So
far
the
state’s
attorney
general
has
pressed
charges
against

two
real
estate
agents
over
alleged
price
gouging.