September 2024: Los Angeles Market Update
September 9, 2024
September 9, 2024
September 2024: Los Angeles Market Update
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 decreasing interest rates have not improved summer home sales with the numbers of homes sold in Los Angeles decreasing 1.8% and inventory increasing 7.2% from July 2024 to August 2024, according to the MLS. Buyers have been extremely cautious this summer, ensuring to engage in only the best real estate deals. As such, many of our clients eagerly await the outcome of the Fed’s meeting next week and its impact on mortgage rates to determine their next real estate decision.
Despite a slower summer for some, we have been staying busy at Highland Premiere with 5 closings the past 2 weeks. We have also been servicing our many sellers with 6 listings in Los Angeles within the past month. In such a dynamic real estate market, it is important to work with the best real estate team to find the best deals in a desired city, such as Los Angeles.
Overall, the seller’s market remains active as they prepare for the potential influx of buyers. And at Highland Premiere, we are always prepared to serve our clients, no matter where they are in their real estate journey. We are always here for when you are ready to work with the hardest working team in real estate.
Read our September Newsletter Here
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
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July 12, 2024
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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
