by Kathy Gibson | May 22, 2023 | Buying, Home and Garden, Market, Neighborhood, Open House, Selling, Uncategorized
Home purchase sentiment improves as consumers’ optimism on mortgage rates amend: The Fannie Mae Home Purchase Sentiment Index® (HPSI) increased in April to its highest level since May 2022, jumping 5.5 points to 66.8. All six of the HPSI’s components increased month over month, including the one associated with consumers’ expectations on mortgage rates. While almost half of respondents still expected mortgages rates to rise over the next year, nearly a quarter (22%) of them expect mortgage rates to go down. Pasadena, CA Mon May 22 2023 This week the median list price for a single family home in Pasadena, CA is $1,599,000 with the market action index hovering around 50. This is less than last month’s market action index of 51. Inventory has increased to 87. The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence. Altadena, CA 91001 Mon May 22 2023 This week the median list price for a single family home in Altadena, CA 91001 is $1,356,000 with the market action index hovering around 60. This is an increase over last month’s market action index of 56. Inventory has increased to 30. 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 continues....
by Kathy Gibson | May 8, 2023 | Buying, Market, Neighborhood, Open House, Selling, Uncategorized
Pasadena, CA Mon May 08 2023 This week the median list price for Pasadena, CA is $1,649,000 with the market action index hovering around 51. This is an increase over last month’s market action index of 49. Inventory has decreased to 77. 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 trend. Altadena, CA Mon May 08 2023 This week the median list price for Altadena, CA is $1,199,000 with the market action index hovering around 58. This is an increase over last month’s market action index of 55. Inventory has increased to 29. 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...
by Kathy Gibson | Apr 24, 2023 | Buying, Market, Selling
Inventory might get worse before it gets better according to REALTORS® The California Association of REALTORS®’ (C.A.R.) monthly member survey revealed that inventory could pose a challenge ahead of the spring home buying season. The percentage of REALTORS® with listing appointments dropped for the second consecutive month, moving in the opposite direction than usual this time of the year. With less listing appointments, less properties are consequently being listed for sale as evident in the drop-off of REALTORS® reporting listing a property in April. Market Stats for Pasadena, CA Mon Apr 24 2023 This week the median list price for a single family home in Pasadena, CA is $1,599,000 with the market action index hovering around 50. This is an increase over last month’s market action index of 46. Inventory has decreased to 83. 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 trend. La Canada Flintridge, CA Mon Apr 24 2023 This week the median list price for a single family home in La Canada Flintridge, CA is $3,584,500 with the market action index hovering around 40. This is about the same as last month’s market action index of 40. Inventory has increased to 22. Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to...
by Kathy Gibson | Mar 27, 2023 | Buying, Market, Neighborhood, Selling
California’s housing market and employment continued to make progress in February. However, recent banking turmoil has caused some uncertainty in the market. The ongoing pressures in the financial system could lead to smaller banks tightening their lending standards, which could negatively impact housing demand. Despite this, the Fed has enacted its ninth rate hike since March 2022, but hinted that there may only be one more to come before the end of the year. This has resulted in mortgage rates falling for the second consecutive week, reaching their lowest level in a month. As a result, many buyers have been motivated to enter the market, with mortgage applications increasing for the third week in a row. In my opinion, this is a great time for potential buyers to take advantage of the lower rates and make their move into the housing market. Pasadena, CA Mon Mar 27 2023 This week the median list price for Pasadena, CA is $1,629,500 with the market action index hovering around 47. This is about the same as last month’s market action index of 47. Inventory has decreased to 86. 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 91214 Mon Mar 27 2023 This week the median list price for La Crescenta, CA 91214 is $1,396,500 with the market action index hovering around 58. This is an increase over last month’s market action index of 57. Inventory has decreased to...
by Kathy Gibson | Feb 6, 2023 | Buying, Market, Neighborhood, Selling
Pasadena, CA Mon Feb 06 2023 This week the median list price for Pasadena, CA is $1,394,750 with the market action index (MAI) hovering around 44. This is an increase over last month’s market action index of 43. Inventory has increased to 88. The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again. Altadena, CA 91001 Mon Feb 06 2023 This week the median list price for Altadena, CA 91001 is $1,307,500 with the market action index (MAI) hovering around 51. This is less than last month’s market action index of 54. Inventory has increased to 24. The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, 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...