Below we’ve outlined recent Los Angeles housing statistics and insights in light of the devastating wildfires. We’ll be updating this page with new information as it becomes available and as the situation evolves. Redfin agents are working hard to help local homebuyers and sellers navigate disruptions and changes to their transactions. Many Redfin agents are
Pending home sales dropped 4.5% from November as mortgage rates jumped to the highest level in months. Roughly 40,000 home purchases were called off in December, equal to 16% of homes that went under contract—the highest December percentage on record. Existing home sales—a lagging indicator of deals that were negotiated in prior months when mortgage
The median asking rent fell 0.3% year over year in December to $1,594, the lowest since March 2022. Austin, TX posted the biggest decline, with asking rents down 16%, followed by Tampa and Jacksonville. Rents rose most in Providence, RI, Virginia Beach and Louisville. Property owners are lowering rents to attract tenants as an influx
Over half of home listings last month sat on the market for 60 days or longer—the highest November share since 2019. That’s a major reason housing supply jumped 12%. Active listings—the total number of homes for sale—climbed to the highest level since 2020 in November on a seasonally adjusted basis, rising 0.5% month over month
Active listings are rising in part because many homes are lingering on the market, causing supply to pile up. We’re taking a break from analysis this week, but please see the tables and charts below for this week’s housing-market data. We’ll be back with full commentary after the holidays. Note: Some metrics are showing weakness
Home sales are up 28% year over year in Portland, OR—the biggest gain of any major U.S. metro. Next come San Jose, Seattle and San Francisco, which also saw double-digit increases. In Portland, OR, home sales jumped 27.6% year over year in November—the biggest increase among the 50 most populous U.S. metropolitan areas. It was
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