On the first anniversary of the Pacific Palisades and Malibu wildfires, vacant land is piling up across some of Los Angeles' most heavily damaged neighborhoods, even as investors account for a growing share of the limited transactions taking place.
California home sales in August 2025 edged higher, supported by stabilizing prices and a modest decline in mortgage rates, according to the California Association of Realtors.
The January 7, 2025, Palisades and Eaton wildfires inflicted catastrophic damage on Los Angeles, destroying more than 13,500 properties and triggering an estimated $40 billion in insured losses, according to property data firm Cotality.
Wildfires that ravaged Pacific Palisades, Malibu and Los Angeles areas for 3 weeks last January scorched an estimated $51.7 billion in residential real estate, marking one of the most financially devastating wildfire events in U.S. urban history, according to a new analysis by Redfin.