Single-family listings have risen by 32% nationwide year-over-year, now totaling 737,997, the highest October inventory since 2019, according to HousingWire. Despite high inventory levels, weekly listings dipped slightly in October. Meanwhile, 39.5% of properties saw price reductions, while 11.4% more single-family homes are under contract compared to last year.
Outlook for Los Angeles Real Estate
With elevated inventory levels and strategic price cuts, Los Angeles buyers can expect a more favorable landscape. However, the bond market’s response to recent labor data could impact mortgage rates and influence seller sentiment into 2025.
Contact Westside Los Angeles Luxury Real Estate Broker Abdo Pierre Faissal at Nourmand & Associates for more information 310-620-1038 / [email protected]