Home Prices & Sales Keep Falling - September 2022 LA Housing Market Update
The housing market continues to soften as we hear more from the Federal Reserve about further rate increases going into 2023. While median prices have fallen from their recent peaks, they still remain just above where they were a year ago for the same month. Pending sales and closed sales continue to decline, but interestingly, inventory levels still remain relatively low all things considered.
The good news is homes priced correctly are still selling relatively quickly and buyers continue to have more options to choose from.
