Big spike in existing home sales

 Last month, existing home sales increased 1.6% month-over-month, reaching a seasonally adjusted rate of 4,179,346—the strongest monthly growth since January 2022. Year-over-year sales also rose 1.7%, marking the first annual increase in nearly two years. ### Key Takeaways for LA’s Market - **Median Sale Price**: Up 5.2% YoY to $435,313, the largest gain in six months. - **Pending Sales**: Dropped 1.1% MoM due to rising mortgage rates. - **Buyer Activity**: Redfin reports a 25% YoY rise in buyer service requests, hinting at demand recovery. **Our Perspective on LA Real Estate** While the price increases and buyer activity are encouraging, the drop in pending sales underscores the impact of rate volatility. Mortgage rates, influenced by economic policy uncertainty, may continue to challenge buyer affordability. Buyers should act quickly if rates dip again, and sellers should focus on accurate pricing to capture active demand. Contact Westside Los Angeles Luxury Real Estate Broker Abdo Pierre Faissal at Nourmand & Associates for more information 310-620-1038 / [email protected] facebook-letter-logo x-logo linkedin-logo pinterest-logo [Facebook](https://www.facebook.com/sharer.php?u=https%3A%2F%2Fapfreg.com%2Fbig-spike-in-existing-home-sales%2F) [X](https://x.com/intent/post?url=https%3A%2F%2Fapfreg.com%2Fbig-spike-in-existing-home-sales%2F&text=Big+spike+in+existing+home+sales) [Pinterest](https://pinterest.com/pin/create/link/?url=https%3A%2F%2Fapfreg.com%2Fbig-spike-in-existing-home-sales%2F) [LinkedIn](https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fapfreg.com%2Fbig-spike-in-existing-home-sales%2F&title=Big+spike+in+existing+home+sales&summary=Last+month%2C+existing+home+sales+increased+1.6%25+month-over-month%2C+reaching+a+seasonally+adjusted+rate+of+4%2C179%2C346%E2%80%94the+strongest+monthly+growth+since+January+2022.+Year-over-year+sales+also+rose+1.7%25%2C+marking+the+first+annual+increase+in+nearly+two+years.+Key+Takeaways+for+LA%E2%80%99s+Market+Median+Sale+Price%3A+Up+5.2%25+YoY+to+%24435%2C313%2C+the+largest+gain+in+six+months.+Pending+%5B%E2%80%A6%5D)