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Monday Market Stats April 1

Monday Market Stats April 1

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.  ...

Monday Market Stats July 31

Pasadena, CA Mon Jul 31 2023 This week the median list price for a single family home in Pasadena, CA is $1,595,000 with the market action index hovering around 53. This is about the same as last month’s market action index of 53. Inventory has increased to 87. 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. Altadena, CA 91001 Mon Jul 31 2023 This week the median list price for a single family home in Altadena, CA 91001 is $1,399,000 with the market action index hovering around 59. This is an increase over last month’s market action index of 58. Inventory has decreased to 35. The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices....