May 2024: Los Angeles Market Update
June 5, 2024
June 5, 2024
May 2024: Los Angeles Market Update
As we get into the crux of the spring home buying season, interest rates have dropped after a 5-week climb, from 7.22% to 7.06% for 30-year fixed mortgages. As buyers are feeling optimistic, the market continues to remain busy. In Los Angeles County, the number of homes sold increased 4.9% from March to April and average days on the market decreased 7.9% as buyers are making quick and smart real estate moves. Sellers are also looking to take advantage of the active real estate market as the number of homes listed increased 14.9%.
Homes in prime neighborhoods are continuously going into multiple offers, and at Highland Premiere, our top agents have skillfully and successfully navigated our buyers through the tough current market. Despite the low inventory, we have successfully closed on multiple homes for our buyers. For our sellers, we have successfully sold their homes at premium prices throughout the month of April.
Even in current times, there are incredible real estate deals to be found, and at Highland Premiere, we are always ready to guide you through these dynamic times. We ensure you will have the best team at your disposal to find exclusive opportunities and negotiate the best deals. Our clients are our family, and we guarantee we will guide you with great care and knowledge. We are always here to assist, so please do not hesitate to reach out if you are ready to start your real estate journey.
Stay up to date on the latest real estate trends.
October 7, 2024
As we enter October, the autumn season brings some uncertainty to the real estate market. Despite continually declining interest rates this summer, the Los Angeles rea… Read more
September 9, 2024
September brings continually declining mortgage rates, which remain flat at its lowest rate in over a year at 6.35% for the 30-year fixed mortgage. However, the decrea… Read more
August 14, 2024
August brings positive news as mortgage rates have declined to its lowest rate in over a year, settling at 6.47% for a 30-year fixed mortgage, according to Freddie Mac… Read more
July 12, 2024
Over the 4th of July holiday weekend, Highland Premiere was busy prepping many new listings to be launched this week! We will have a total of four new listings for sal… Read more
June 17, 2024
As we enter the summer season, the mortgage rates continue to hover around 7% for the past 5 weeks, landing at 6.99% for the 30-year fixed mortgages this past week. Ma… Read more
June 5, 2024
As we get into the crux of the spring home buying season, interest rates have dropped after a 5-week climb, from 7.22% to 7.06% for 30-year fixed mortgages. As buyers … Read more
April 15, 2024
As we entered April, the current landscape of the real estate market has evidently shifted. There are two movements at play: the increase of inventory and the decrease… Read more
February 5, 2024
The outlook for the 2024 housing market can probably be characterized in one word: Optimism. We are starting to see a lot more optimism this year already, coming out o… Read more
January 20, 2024
As we embrace 2024, it's a time for new beginnings, and the real estate landscape in Los Angeles and Orange County is no exception. We're thrilled to share that the ho… Read more
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Highland Premiere Real Estate
12696 Millennium Drive
Los Angeles, CA 90094
DRE #01919746
DRE #01925833
