Economic uncertainty and high interest rates are holding back buyers, though high-end cash purchasers aren't waiting.
The average age of a homebuyer is also going up.
With inventory reduced and fire risk increased, both home prices and insurance rates could rise in Southern California.
Some builders are starting to see more interest from buyers, including those who spent 2023 on the sidelines, waiting for better rates.
New home sales fell 5.6% in October, but they’re still up 18% over last year. And they make up a record share of total inventory.
Despite the world going digital, homebuying is still a highly analog process. James Rodriquez of Insider discusses the quest for a superapp.
People motivated to buy or sell homes in this market are often hitting significant milestones, from babies and back-to-office mandates to downsizing and retirement.
Mortgage rates are rising, too.
Rates could soon start ticking up, but homebuyers are mostly focused on the size of that monthly mortgage payment.
It's more straightforward than it seems.
