Los Angeles Real Estate News
Los Angeles
Affordability and U.S. Election Stalling U.S. Consumers Home Buying Decisions
In July 2024, pending home sales dropped by 5.5%, as reported by the National Association of Realtors. All four U.S. regions experienced monthly declines in transactions. Compared to last year, the Northeast saw an increase, while the Midwest, South, and West showed decreases.
U.S. Homebuyer Median Down Payment Hits Record $67,500
Based on a new report by Redfin, the typical down payment for U.S. homebuyers hit a record high of $67,500 in June 2024, up 14.8% from $58,788 a year earlier. This was the 12th consecutive month the median down payment rose year over year.
New Home Sales in America Jump in July
According to new data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes in July 2024 rose 10.6% to a 739,000 seasonally adjusted annual rate from significant upward revisions in June 2024.
Zombie Foreclosures in U.S. Decline in Q3, Reaching Lowest Levels Since 2021
Based on ATTOM's newly released third-quarter 2024 Vacant Property and Zombie Foreclosure Report, almost 1.4 million (1,357,423) residential properties in the United States are vacant. That figure represents 1.3 percent, or one in 76 homes, across the nation - roughly the same as in the second quarter of this year.
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