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Monday Market Stats April 15

Monday Market Stats April 15

We remain in a paradoxical environment where the ongoing strength of the U.S. economy raises concerns for the housing market. Strong jobs numbers last week were followed by equally strong inflation numbers this week, and then retail spending numbers exacerbated concerns that any rate cuts from the Fed would not come until the second half of the year, if at all. Pasadena, CA Mon Apr 15 2024 This week the median list price for a single family home in Pasadena, CA is $1,724,000 with the market action index hovering around 53. This is an increase over last month’s market action index (MAI) of 52. Inventory has decreased to 66. In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. 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....

Monday Market Stats April 8

Pasadena, CA Mon Apr 08 2024 This week the median list price for a single family home in Pasadena, CA is $1,880,000 with the market action index (MAI) hovering around 53. This is less than last month’s market action index of 54. Inventory has held steady at or around 59. The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on...

Monday Market Stats March 11

Pasadena, CA Mon Mar 11 2024 This week the median list price for a single family home in Pasadena, CA is $1,765,000 with the market action index hovering around 55. This is an increase over last month’s market action index of 51. Inventory has decreased to 59. Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend...

Monday Market Stats

After a promising start in January due to a decrease in rates, the housing market has shown some fluctuations with a recent decrease in pending sales. This suggests that the rebound may not be entirely smooth. However, there are positive signs that buyers are adapting to more typical rates compared to those experienced during the pandemic. Key market indicators point to a growing competitiveness as we approach the Spring home buying season. Pasadena, CA Mon Mar 04 2024 This week the median list price for a single family home in Pasadena, CA is $1,689,000 with the market action index hovering around 53. This is an increase over last month’s market action index of 51. Inventory has decreased to 64. Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend...