Home Sales PLUMMET, Prices Next?? | Los Angeles Real Estate Update - June 24, 2024

Nationally and across California, home sales are plummeting. And when home sales plummet, home prices usually follow. But is that what's happening here in LA?
Watch this week's Los Angeles Real Estate Update to find out! Each week, we dig into LA's local market data to get a handle on what's happening right now and where this market is headed.
This weekly update is brought to you by House Hack Los Angeles, a boutique agency that uses data and strategy to buy better and sell smarter.
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The LA real estate market is always pretty crazy, and this year is proving to be even crazier than last. Are you planning on buying a home or investment property in LA this year? Are you planning on selling your home or investment property in LA this year? Subscribe and watch the Los Angeles Real Estate Update to understand how and when to make your homebuying or home selling moves.
For both homebuyers and home sellers in LA, you can't afford to go in blind! Know what's happening this week with the weekly Los Angeles Real Estate Update!
Jon Schwartz (CA DRE 02123925) operates House Hack Los Angeles, a real estate team brokered by Fathom Realty Group, Inc. (CA DRE 01901202).

[@REBuildRealEstate]

If the trends continue, this is great news for buyers - a 15% increase in inventory, more price reductions, and lower listing prices! We're seeing something similar in NY as well.

[@grownupgaming]

Damn good show Jon

[@grownupgaming]

6:54 And 11% median sale price YoY in San Diego! But agreed, it feels these price increases will soon come to an end.... well, until mortgage rates drop to 6%!

[@anothamatt]

prices aren't coming down in SoCal... there is too much cash on the sidelines ready to prop them up the moment any downward movement happens or interest rate relief comes....sellers have no incentive to sell at lower prices...volume will drop, but prices won't.. .