Resilient Prices, Rising Rates, Low Activity - Nov. 2023 LA Housing Market Update

This last month has been quite interesting for the LA real estate market. Even though rates peaked recently above 8%, prices remain resilient as a result of the low inventory levels. In both commercial and residential real estate, many market participants continue to hold off on transacting real estate for the time being in the hopes that the grass will be greener ahead.

However, the nation currently faces some serious economic circumstances that could lead to outcomes drastically different from what people expect, including much stronger inflation and/or much higher interest rates.

Watch the video to find out what's happening with pending sales, closed sales, median prices, and the supply of inventory. How can we help you with your real estate needs? Give us a call today.

Pending Home Sales Evaporate Like Low Rates - Oct. 2023 Housing Market Update

As we continue to experience higher interest rates for longer than most anticipated, pending home sales and closed home sales continue to decline. Higher mortgage rates are causing both difficulty with buyer affordability but also even fewer sellers to sell their homes compared to the already depressed inventory levels we've experienced for many years. The combined effect has created a very tight real estate market with prices remaining relatively high considering current market interest rates. Watch the video to find out what's happening with pending sales, closed sales, median prices, and the supply of inventory. How can we help you with your real estate needs? Give us a call today.

High Mortgage Rates Crush Supply - Aug 2023 Housing Market Update

Well folks, the real estate market here in L.A. County remains extremely tight. The Federal Reserve raised interest rates last week another 25 basis points, causing mortgage rates to trend up yet again. Surprisingly, the real issue hasn't been so much buyer affordability, but rather, depressed supply, as a larger than normal number of sellers hope to push off their real estate decisions until rates look more favorable.

Of course, although many are hoping for lower rates sometime soon, there's no way to tell if/when rates may become favorable again and the overall cost of housing continues to rise along with inflation.

Watch the video to find out what's happening with pending sales, closed sales, median prices, and the supply of inventory.

How can we help you with your real estate needs?

Give us a call today.

The Weber Real Estate Team

Keller Williams Beach Cities

424-237-8570

BRE 01949818

www.SouthBayOnSale.com

Buyers & Sellers Adjust To Interest Rates - July 2023 Housing Market Update

After many months of very subdued activity, we're starting to see an uptick in the number of homes that are selling, which is great news. It seems buyers and sellers are adapting to interest rates, which for all we know, could stay elevated for a lot longer than we think; or, they could even keep rising as we see increased pressure to combat sticky inflation.

Inventory currently seems to be the main constraint in the Los Angeles market, which is evidenced by median sales prices remaining elevated. It seems demand is continuing to outpace supply.

Watch the video to find out what's happening with pending sales, closed sales, median prices, and the supply of inventory.

How can we help you with your real estate needs? Give us a call today.

The Weber Real Estate Team

424-237-8570

BRE 01949818

www.SouthBayOnSale.com

L.A. Real Estate Slows To A Crawl - June 2023 Housing Market Update

Lots to talk about in this video, including the continued slowdown in the housing market as well as another CA Bill, SB 567, further increasing tenant rights and protections that were already passed a few years ago under AB1482 as well as more about new lending programs designed to stimulate the market and allow people with low or no down payments to buy homes.

Watch the video to find out what's happening with pending sales, closed sales, median prices, and the supply of inventory.

How can we help you with your real estate needs? Give us a call today.

The Weber Real Estate Team

424-237-8570

BRE 01949818

www.SouthBayOnSale.com

Everything Falls But Prices - May 2023 LA Housing Market Update

Lots of new developments since the last market update video. The Federal Reserve raised rates again today another 25 basis points, and most market participants believe the Fed is now at the end of their hiking cycle and will likely start lowering rates before year's end, which I anticipate being the single most important factor affecting the real estate market going forward.

We're also either in a recession now or about to be in one soon, and there will certainly be implications as a result of that. In addition, we continue to see more and more programs aimed at supporting the market and increasing affordability, which continue to have their desired effect - pushing prices up and creating additional demand.

Is Real Estate Pivoting With The Fed? - Apr. 2023 LA Housing Market Update

It looks like we could be at the beginning of another transition in the real estate market as a result of the recent pivot by the Fed that I've been anticipating for some time and now the market is too. Most market participants believe the Fed is now going to "pause" their rate hikes and soon start lowering rates, which would once again become a tailwind for RE prices just as it has for so many years.

In addition, more programs continue to crop up, allowing buyers to buy homes with little to no money out of pocket, adding another pillar of support. It could be that the lows are in for real estate prices. Either way, I would suspect that once enough market participants believe rates will be lower in the future than they are today, we will see a huge increase in demand, and we all know where that leads. That said, if there's one thing we can be sure of, it's the future is often full of surprises.

Rising Rates Crush Home Sales - March. 2023 LA Housing Market Update

Hotter than expected inflation data is putting renewed pressure on the Federal Reserve to continue raising rates in the market, translating into increasing borrowing costs for many home buyers. As a result, home prices continue to trend marginally lower, while pending and closed sales fall to 2008 levels. Surprisingly, housing inventory still remains quite low all things considered. Are we in the calm before the storm, or, are we just at the beginning of a long term calm? Only time will tell.

Home Prices Continue To Slide - Feb. 2023 LA Housing Market Update

Well folks, the first month of the year is gone and the data is in. We continue to see home prices trend down with very limited activity in terms of pending and closed home sales and days on market have risen drastically. However, inventory on the market remains very low and interest rates have come down quite a bit from their recent highs, allowing home buyers new opportunities to buy in a more relaxed market at lower prices and with better rates.

Watch the video to find out what's happening with pending sales, closed sales, median prices, and the supply of inventory.

Let us know how we can help you and your family and friends with real estate this year?

Home Prices Break Through Floor - Jan. 2023 LA Housing Market Update

In this episode, we finally see LA County median prices fall through the year over year floor they seemed to not want to break through for a while. In addition, days on market ticks up quite a bit and we experience the lowest number of pending and closed sales we've seen for a long time.

Watch the video to find out what's happening with pending sales, closed sales, median prices, and the supply of inventory.

Contact us today if you have questions about the market, strategy, or buying or selling.