by Kathy Gibson | May 6, 2024 | Buying, Home and Garden, Market, Neighborhood, Selling
Pasadena, CA Mon May 06 2024 This week the median list price for a single family home in Pasadena, CA is $2,188,000 with the market action index hovering around 57. This is an increase over last month’s market action index of 53. Inventory has increased to 73. The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current...
by Kathy Gibson | Apr 2, 2024 | Buying, Market, Neighborhood, Open House, Selling
The economy is showing solid first-quarter growth, boosting consumer confidence in their financial well-being. However, resilient consumer spending is preventing a decrease in inflation, posing a challenge for the Fed in lowering interest rates. The central bank is still expected to cut rates by 75 bps this year, with the first cut anticipated in June. If this prediction holds true, rates should start declining more sustainably in May, potentially benefiting the spring home buying season. Pasadena, CA Tue Apr 02 2024 This week the median list price for a single family home in Pasadena, CA is $1,980,000 with the market action index (MAI) hovering around 52. This is less than last month’s market action index of 55. Inventory has held steady at or around 63. The market remains in a relative stasis in terms of sales to inventory and prices have been relatively stable for a few weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb. ...