News & Insights
Los Angeles Area Market Trends and Updates
Rapid interest rate increases continue to depress California home sales and prices in November, C.A.R. reports
By OfferBanc Marketing | February 10, 2023
Note: This story was originally posted by PRNewswire by California Association of Realtors on November 11, 2022. LOS ANGELES, Dec. 16, 2022 /PRNewswire/ — Housing demand in California continued to fall as rising interest rates further dampened the state’s housing market in November as home sales registered the lowest annualized pace since October 2007 and the largest year-over-year sales drop in…
Housing affordability inches up from recent trough, but remains depressed by higher rates, C.A.R. reports
By OfferBanc Marketing | February 10, 2023
Note: This story was originally posted by PRNewswire by California Association of Realtors on November 11, 2022. LOS ANGELES, Nov. 11, 2022 /PRNewswire/ — Housing affordability in California bounced back in the third quarter with the statewide index for existing single-family home sales inching up to 18 percent after hitting a 15-year low of 16 percent in the second…
C.A.R. releases its 2023 California Housing Market Forecast
By OfferBanc Marketing | February 10, 2023
Note: This story was originally posted by PRNewswire by California Association of Realtors on December 3, 2022. Market shift under way as mild recession and higher interest rates cut into housing demand. LOS ANGELES, Oct. 12, 2022 /PRNewswire/ — A modest recession caused by an ongoing battle against inflation will keep interest rates elevated to suppress buyer…
California’s housing market is cooling off faster than any other US state, even though it’s still really costly to buy a home there
By OfferBanc Marketing | February 10, 2023
Note: This story was originally posted by Businessinsider.com by Alcynna and Madison Hoff on December 3, 2022. Housing affordability tanked in California this year. But the state’s stratospherically-high home prices have also led to it witnessing some of the biggest drops in median sale prices since much of the US housing market peaked earlier this year. Indeed, data…
Just 13% of LA and OC residents can afford to buy a home, analysis shows
By OfferBanc Marketing | February 10, 2023
Note: This story was originally posted by ABC7.com by David González and Grace Manthey on November 22, 2022. The red hot housing market cooled down this year after mortgage interest rates for a 30-year fixed mortgage more than doubled over the last 12 months to about 7%. “That definitely affected the housing market in terms of sales,”…
California’s housing prices expected to dip by 9%
By OfferBanc Marketing | February 10, 2023
Note: This story was originally posted by Joseph Pimentel on Spectrum News 1 on October 13, 2022. ANAHEIM, Calif. — Home prices in California’s housing market, once one of the nation’s hottest during the coronavirus pandemic, is forecasted to drop 9% next year as interest rates continue to skyrocket and dark clouds of a possible…
8 Places in California Where Home Prices Have Plummeted
By OfferBanc Marketing | February 9, 2023
Note: This story was originally posted by gobankingrates.com by JakeArky on February 28, 2023. California Market Update California is one of the states in the U.S. where dreams really do come true. From the majestic sceneries up and down the coastline to the variety of fresh foods and the industries of Silicon Valley and Hollywood, California…
The Los Angeles Housing Market Predictions and Forecast for 2023
By OfferBanc Marketing | February 9, 2023
Note: This story was originally posted by Doorloop and authored by David Bitton on December 7, 2022. Los Angeles Housing Market Overview Lets take a look a the Los Angeles Housing Market Predictions and Forecast for 2023. If you are a real estate investor, you know more than anybody how important the housing market is.…
40 Cities That Could Be Poised For a Housing Crisis
By OfferBanc Marketing | January 13, 2023
This article originally appeared on gobankingrates.com – Jan 11, 2023 by Andrew Lisa The real estate market has been going strong the past few years, making many home-sellers quite wealthy. But with mortgage interest rates climbing, home sales are slowing and anticipated to decrease further in 2023. That slowdown is more apparent in some cities than others,…
Los Angeles Housing Market: Prices, Trends, Forecast 2022-2023
By OfferBanc Marketing | January 9, 2023
Note: This story was originally posted by Norada Real Estate Investments on January 9, 2023. Are Housing Prices Going Down in Los Angeles? We’ll discuss the recent trends in the Los Angeles housing market. The market dynamics are changing now. After a two-year housing boom spurred in large part by record-low borrowing costs, the Los Angeles real…
