The WPJ

Los Angeles

California Home Sales Uptick 6 Percent Annually in January

Based on new data from the California Association of Realtors, the State of California existing home sales rebounded in January 2024 to the highest level in six months as mortgage rates pulled back sharply at the end of 2023.

U.S. Commercial, Multifamily Borrowing Dives 25 Percent Annually in Late 2023

Based on the Mortgage Bankers Association's latest Quarterly Survey of Commercial and Multifamily Mortgage Bankers Originations, commercial and multifamily mortgage loan originations in the U.S. were 25 percent lower in the fourth quarter of 2023 compared to a year earlier and increased 13 percent from the third quarter of 2023.

Record High Multifamily Construction Deliveries Drive Vacancy Rates Higher

According to CBRE's latest research, the U.S. multifamily market experienced a surge in new construction deliveries in 2023, leading to a slowdown in rent growth.

Homes in 86 Percent of U.S. Metros Enjoyed Price Gains in Q4

Based on the National Association of Realtors' latest quarterly report, more than 85% of U.S. metro markets (189 out of 221) registered home price increases in the fourth quarter of 2023 as the 30-year fixed mortgage rate dropped from 7.79% to 6.61%.

Los Angeles Property News












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