There are more than five months of supply on the market, the most since early 2019. Homes are taking a long time to sell largely because housing costs are so expensive–but for buyers who can afford it, there are a fair amount of homes to choose from. Homes are selling at their slowest pace since […]
The Typical Home Is Taking Nearly 2 Months to Sell. That’s The Slowest Pace in 5 Years. Read More »
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
Los Angeles Wildfires: Redfin’s Latest Local Housing Market and Rental Data Read More »
In Los Angeles, demand for rentals is spiking as residents displaced by wildfires search for housing. The median U.S. monthly housing payment is $2,686, the highest level in nearly seven months, as of the four weeks ending January 19. Housing costs are high because of rising mortgage rates and home prices: The weekly average mortgage
High Housing Payments Are Slowing Home Sales, But Buyers Could Get Relief Soon Read More »
Home prices grew 0.4% month over month in December, rising at a slightly slower pace than the past four months. On a year-over-year basis, home prices closed out the 2024 calendar year up 5.4%, the smallest annual increase since 2015. 15 of the 50 most populous U.S. metros recorded a drop in home prices month
U.S. Home Prices Rose 0.4% in December Read More »
In Cleveland, prices jumped 15% year over year in December—the biggest increase among the 50 most populous metros. Next came Milwaukee and Philadelphia. Florida is home to the three metros where prices rose the least. Home prices rose from a year earlier in all 50 of the most populous U.S. metropolitan areas in December—the first
Home Prices Are Rising in Every Major Metro for the First Time Since 2022 Read More »
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
Pending Home Sales Fell the Most Since 2022 in December as Mortgage Rates Jumped Read More »
