While February brought a **4.2% month-over-month increase in existing home sales**, the broader picture remains clear: the housing market is still running well below its historical averages. According to **ResiClub’s analysis of NAR data**, **existing home sales fell 1.2% year-over-year**, and if current trends hold, **2025 is on pace to end with 1 million fewer sales** than a typical year before the pandemic. * * * ### 🔎 What the Data Shows - 🏘️ **Sales are still below 2019 levels** in every major U.S. housing market — except for **Virginia Beach, VA** and **Louisville, KY**. - 📈 **March saw more new listings** than the same month in both 2023 and 2024 — but total inventory remains **below pre-COVID norms**. - 🧾 **Mortgage purchase applications**, a leading indicator for future home sales, have crept up in early 2025 — but remain **well below normal activity**, indicating persistent buyer hesitation. In **Los Angeles**, we’re seeing the same pattern: **more homes are being listed**, but **buyers aren’t jumping in as quickly** — even with a bit more inventory to choose from. * * * ### 🧠 Why Are Buyers Still Holding Back? With 30-year fixed mortgage rates hovering around **6.6%–6.8%**, many buyers remain cautious. While **home prices are up** and competition has cooled, **affordability is still a challenge**. Add to that the **economic uncertainty** surrounding the recent **tariff announcements from the Trump administration**, and it’s clear why many buyers are waiting to see how things unfold before making a move. * * * ### 📅 What’s Next? The latest activity still reflects **February conditions — pre-tariff announcements**. We won’t begin to see the impact of new tariffs on consumer sentiment and affordability until **March and April data** start to roll in. 🗓️ **Mark your calendar:** March home sales data will be released on **Thursday, April 24**, and it may give us the first real insight into how buyers are responding to this new economic environment. In the meantime, **we’re likely to see a choppy, uneven housing market** as the spring season unfolds. Some areas will benefit from more listings and price adjustments, while others may remain slow due to financing constraints. * * * ### 💡 Takeaway for Buyers and Sellers in LA - **Buyers**: You have more leverage today than in past spring markets. **Homes are sitting longer**, and **sellers are adjusting expectations**. Use this moment to negotiate favorable terms before market conditions shift again. - **Sellers**: Price your home realistically. While inventory is rising, **demand hasn’t fully rebounded** yet — so overpricing could cause your listing to stagnate. Focus on making your home stand out with **appealing finishes**, **strong marketing**, and **accurate pricing**. * * * 📞 **Contact Abdo Pierre Faissal for unparalleled real estate service.** 📧
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