October 2024: Los Angeles Market Update
October 7, 2024
October 7, 2024
October 2024: Los Angeles Market Update
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 real estate market was less stimulated than previous years. Per the MLS, inventory increased 10.6% from August 2024 to September 2024 while the number of homes sold decreased 19.2%. Buyers also remained vigilant to engage in only the best real estate deals with the best rates and terms. Even with mortgage rates falling an entire one and a half percentage points in the last year, Buyers continued to hope for even further rate declines. Despite a slight increase in this week’s mortgage rates landing at 6.12% for the 30-year fixed mortgage, the anticipation of additional rate cuts, the deceleration of home price growth and the increasing inventory provide an interesting landscape for Los Angeles and Orange County homebuyers this quarter.
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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
