Realtor®

Monday Market Stats Oct. 23

Monday Market Stats Oct. 23

Pasadena, CA Mon Oct 23 2023 This week the median list price for a single family home in Pasadena, CA is $1,674,500 with the market action index (MAI) hovering around 52. This is less than last month’s market action index of 53. Inventory has held steady at or around 90. The market has started cooling and prices have been flat for several weeks. 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 prices....

Monday Market Stats

Pasadena, CA Tue May 30 2023 This week the median list price for a single family home in Pasadena, CA is $1,600,000 with the market action index hovering around 51. This is about the same as last month’s market action index of 51. Inventory has held steady at or around 81. 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 market action index. If the market heats up, prices are likely to resume an upward climb. Monrovia, CA Tue May 30 2023 This week the median list price for a single family home in Monrovia, CA is $1,398,000 with the market action index hovering around 61. This is an increase over last month’s market action index of 60. Inventory has increased to 23. 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...

Monday Market Stats

Economic data released last week showed that the U.S. economy is losing momentum as the lagged effects of monetary policy tightening slow growth as intended. Retail sales and Inflation posted its second-straight monthly decline. However, prices remain elevated for core goods and services which will likely push the Fed to hike rates at their May meeting one last time by another 25 basis points. Consumers adjusted their expectations around inflation and although still relatively pessimistic overall, their long-term sentiment remains stable. Californians will continue to face inventory challenge besides in 2023, as fewer REALTORS® are listing properties ahead of the usual spring home buying season. Pasadena, CA Mon Apr 17 2023 This week the median list price for Pasadena, CA is $1,650,000 with the market action index hovering around 49. This is an increase over last month’s market action index of 47. Inventory has decreased to 81. The market has been strong for several consecutive weeks. Reflecting these inventory conditions, with the MAI in the Seller’s zone, it is not surprising that prices have recently resumed their climb. Los Angeles, CA Mon Apr 17 2023 This week the median list price for Los Angeles, CA is $1,499,999 with the market action index hovering around 42. This is an increase over last month’s market action index of 40. Inventory has decreased to 1,033. 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...

Monday Market Stats

Data released last week for the U.S. economy shows that the labor market is gradually slowing down. However, while the job count declined from the prior month, the March report was still strong overall. Wages inched up from a year ago at the slowest pace in 20 months, and labor force participation rose to the highest level since March 2020, while unemployment rate dropped to 3.5%. The jobs report, while delivering some good news on the inflation front, could be just enough to prompt the Fed to raise the fed funds rate by an additional 25bps in their next meeting in May. Lastly, while consumer confidence in the housing market bounced back, it remained near historic lows, which suggests that the market will likely see a more gradual recovery as it enters the spring home buying season. Pasadena, CA Tue Apr 11 2023 This week the median list price for Pasadena, CA is $1,749,000 with the market action index hovering around 47. This is an increase over last month’s market action index of 45. Inventory has decreased to 81. 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 and prices have recently resumed upward pressure. La Crescenta, CA Tue Apr 11 2023 This week the median list price for La Crescenta, CA is $1,390,000 with the market action index hovering around 63. This is an increase over last month’s market action index of 59. Inventory has decreased to 11. Home sales continue to outstrip supply and...

These are interesting stats…

Did you know?* After peaking at $47.7 trillion in June 2022, the total value of US homes declined by $2.3 trillion, or 4.9%, in the second half of 2022. (Bloomberg)* Of homes purchased in January, 29% were all-cash transactions, up from 28% in December and 27% one year ago. (BARRONS)* The Federal Housing Administration will reduce the fee borrowers pay to have their mortgages insured by the agency by about $800 a year on a typical loan, or 0.3 percentage point. (Bloomberg)* In less than one month the price of lumber dropped over 27%….down over 75% off its 2021 high…….lumber is a good indicator of builder demand….. Compiled by Leonard Steinberg, Compass Manhattan Photo by Collov Home Design on...