July Real Estate Report
Dive into July's Monthly Market Report and explore the positive signs of normalization in the real estate market. Discover how buyer demand, pricing, and new construction are shaping the industry. Stay ahead of the curve and make confident decisions with the latest market insights.
The Thrilling Surge in New Home Construction: Why You Should Consider Buying One
The real estate market has been a wild ride in recent years, with limited inventory and fierce competition for properties. However, an exciting shift is underway as the new home construction sector experiences a remarkable upsurge. This trend not only brings refreshing options for potential homeowners but also unveils a world of enticing incentives and opportunities. In this comprehensive guide, we'll dive into the fascinating world of new home construction, explore the benefits of buying a brand-new property, and reveal the incredible incentives builders are offering to make your dream home a reality. Embrace the future of homeownership and discover the true potential of modern living
Los Angeles Real Estate Data
Jordan Levine, C.A.R.'s Vice President and Chief Economist, warns that high inflationary pressures will result in elevated mortgage rates, reducing purchasing power and depressing housing affordability in the upcoming year. A pullback in sales and a downward adjustment in home prices are expected in 2023 due to high borrowing costs. Additionally, low inventory and rising mortgage rates caused by inflation may impact sales activity. The recent implementation of Measure ULA, also known as the "mansion tax," is expected to bring a substantial transfer fee to the luxury real estate market of $5 million or over in Los Angeles. However, the long-term impact of this measure is still uncertain. Despite properties selling quickly in Los Angeles County, sales of existing single-family homes have decreased by 38.2% YoY. If you want to purchase a home in LA, be prepared to spend a little more than the asking price.