Pending Home Sales Surge in September as Buyers Regain Confidence in Los Angeles Market

In September, pending home sales saw a 2.5% month-over-month jump, the highest increase since early 2023. Year-over-year, sales also rose 3.1%, marking the largest gain since 2021. Despite this, closed sales of existing homes in Los Angeles and across the U.S. fell 0.5% month-over-month and 3% year-over-year, reaching the lowest levels recorded since 2020. **Los Angeles Market Insights** The surge in pending sales aligns with the recent drop in mortgage rates, giving buyers in Los Angeles renewed purchasing power. However, closed home sales remain low due to pre-existing higher rates negotiated before this dip. With potential rate cuts on the horizon for 2025, buyers and sellers in LA should monitor market shifts closely to capitalize on upcoming opportunities. **Outlook for the Los Angeles Housing Market** While the drop in rates was short-lived, experts anticipate further reductions in mortgage rates throughout 2025, albeit gradually. For buyers in Los Angeles, this could unlock more affordable opportunities, while sellers may benefit from increased buyer demand as rates decrease. 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%2Fpending-home-sales-surge-in-september-as-buyers-regain-confidence-in-los-angeles-market%2F) [X](https://x.com/intent/post?url=https%3A%2F%2Fapfreg.com%2Fpending-home-sales-surge-in-september-as-buyers-regain-confidence-in-los-angeles-market%2F&text=Pending+Home+Sales+Surge+in+September+as+Buyers+Regain+Confidence+in+Los+Angeles+Market) [Pinterest](https://pinterest.com/pin/create/link/?url=https%3A%2F%2Fapfreg.com%2Fpending-home-sales-surge-in-september-as-buyers-regain-confidence-in-los-angeles-market%2F) [LinkedIn](https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fapfreg.com%2Fpending-home-sales-surge-in-september-as-buyers-regain-confidence-in-los-angeles-market%2F&title=Pending+Home+Sales+Surge+in+September+as+Buyers+Regain+Confidence+in+Los+Angeles+Market&summary=In+September%2C+pending+home+sales+saw+a+2.5%25+month-over-month+jump%2C+the+highest+increase+since+early+2023.+Year-over-year%2C+sales+also+rose+3.1%25%2C+marking+the+largest+gain+since+2021.+Despite+this%2C+closed+sales+of+existing+homes+in+Los+Angeles+and+across+the+U.S.+fell+0.5%25+month-over-month+and+3%25+year-over-year%2C+reaching+the+lowest+levels+recorded+since+2020.+Los+%5B%E2%80%A6%5D)