Real Estate Blog LA

National Association of Home Builders (NAHB) President Sandy Dunn praised the Housing and Economic Recovery Act of 2008 that was signed into law on July 30. “We believe this landmark legislation is vital to address the turmoil in the financial and housing markets and to bolster the faltering economy,” said Dunn, in a teleconference ...

Prices have risen for four straight months. The median home price has fallen from a high of $230,200 in July 2006 to a low in February 2008 at $195,600, a drop of 15%. Since February, however, it has risen steadily every month. By May the index (which will be revised on July 24) had risen to $208,600, up $13,000 and a full 6.6%. Another ...

Homes are now more affordable then they have been in years.  As soon as I state this, the market could turn the other way. It may be many months before we see balance in the markets, but it is coming. Price reductions have increased dramatically in the past 2 weeks as Sellers look towards the Summer selling months. Homes are no longer as ...

In April of 1973, mortgage rates were about the same as they are today. Since that time, we have only had mortgage rates this low during 2001 and 2002, the height of the seller's markets where there was little inventory. In the last two major buyer's markets, one in the early 1980s and the other in the early 1990s, the rates were much ...

Sales of existing homes increased in February and remain within a fairly stable range, according to the National Association of Realtors®. Existing-home sales - including single-family, townhomes, condominiums and co-ops - rose 2.9 percent to a seasonally adjusted annual rate (1) of 5.03 million units in February from a pace of 4.89 million in ...