Los Angeles Area Real Estate News & Insights
Offerbanc posts Los Angeles area real estate news and trends on a weekly basis.
June 26, 2023 By Gregor Wilson (This article originally appeared here: https://www.houzeo.com/blog/california-real-estate-market/ ) The California real estate market is experiencing a major shift. The median sale price decreased by 9.01% in April 2023 year-on-year, and the number of homes sold dropped by 38.6%. New buyers are starting to enter the market as mortgage rates are stabilizing, currently at 6.79%.…
Read MoreInterest rate reprieve boosts California home sales to highest level in eight months, C.A.R. reports
20 Jun, 2023 Statewide median home price notches above $800,000 for second straight month. LOS ANGELES, June 20, 2023 /PRNewswire/ — California’s housing market rebounded in May as home sales surged to the highest level in eight months and the statewide median price notched above $800,000 for the second straight month, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. Infographic: https://www.car.org/Global/Infographics/2023-05-Sales-and-Price Closed escrow sales of existing, single-family…
Read More15 Jun, 2023 LOS ANGELES, June 15, 2023 /PRNewswire/ — The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today issued the following statement regarding the 2023-24 state budget passed by the California Legislature: The CALIFORNIA ASSOCIATION OF REALTORS® is disappointed that the legislature failed to prioritize critical funding for housing and the California Dream for All down payment assistance program, championed and envisioned by Senate…
Read Moreby California Association of Realtors May 18, 2023 Statewide median home price ratchets above $800,000 for first time in six months. LOS ANGELES, May 18, 2023 /PRNewswire/ — A surge in mortgage interest rates and a shortage of homes for sale suppressed California home sales in April, while the statewide median home price climbed above the $800,000 level for the first time in…
Read Moreby California Association of Realtors May 16, 2023 2023 Housing market forecast revised to 279,900 units sold and a statewide median price of $776,600. LOS ANGELES, May 16, 2023 /PRNewswire/ — Retreating home prices and slightly lower interest rates improved the outlook for more California homebuyers in the first quarter of 2023, as the state’s housing affordability rose to the highest level…
Read Moreby Ben Christopher May 15, 2023 This month Californians worried about the cost of housing were offered the rarest of gifts: a glimmer of hope. New numbers released by the Newsom administration show that California added homes to its housing stock at a faster clip than any time since the Great Recession — 123,350 additional units,…
Read Moreby Marco Santarelli May 5, 2023 The California Association of Realtors (CAR) has released its report on the California housing market, indicating that higher interest rates contributed to a small drop in home sales in March 2023. Despite the dip, the demand for housing in the state remains strong, with homes selling quickly and at improved…
Read Moreby Jake Arky May 4, 2023 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 truly has it all. And it’s going to cost you to…
Read Moreby Marc Sternfield April 25, 2023 If you’re thinking about putting your home on the market this spring, don’t expect it to sell right away. The California Association of Realtors has released data for March showing homes sat on the market more than twice as long they did a year ago. Statewide, the median number of days…
Read Moreby Gord Collins April 23, 2023 Housing Market California Hoping to buy a home or condo in California in 2023? While expectations may run higher, it appears prices and mortgage costs will be higher according to the latest sales report from CAR. In April, single family home sales declined slightly across the state as a…
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