Home Sales Pick up in Los Angeles and and surrounding areas

Sold homes and listings for the Los Angeles market continued its year-long decline in October, but there was some good news in a marketplace of scarce inventory. Two categories of the single-family home segment experienced gains for the first…

Can’t afford a house? Here’s how that happened

The high cost of housing is driving Southern California’s biggest challenges. Income is not keeping pace with housing costs. It hasn’t for at least two generations, and the problem of unaffordable shelter shows few signs of letting up. There’s…

Airbnb hosts are charging higher rates and raking in big payouts amid city crackdown

Running an Airbnb in L.A. has never been more profitable. As the city tries to crack down on illegal listings, and advocacy groups complain about the company’s effect on L.A.’s housing crisis, hosts are charging higher rates than…

California lawmakers put funding for ADUs in flux. What you need to know

A popular state grant program to help low- and moderate-income California homeowners build accessory dwelling units may end up with $25 million in new funding following a tussle over dollars in the state budget. The California Housing Finance…

Mortgage interest rates surge past 7%, hit highest level since 2002

Home mortgage rates have surged past 7%, hitting the highest level in more than 20 years and dealing another blow to Americans trying to break into the housing market. The average rate on the popular 30-year fixed mortgage was 7.09% this…

The median home listed in Los Angeles and surrounding areas will soon cost more than $1 million — up 30% in 5 years

The already dizzying Los Angeles housing market is poised to reach new heights, as the latest data from Zillow suggest that the median home listed in the city will soon cost more than $1 million. As of June 30, the figure was $975,333,…

Does your home insurance cover a landslide? Here’s what you need to know

Over the weekend, 12 houses on Peartree Lane in a gated subdivision of Rolling Hills Estates began to slide into the canyon that ran below their back patios. In the days since, several of the houses fell all the way in. The owners of these…

US housing market defying crash expectations as supply shortage keeps prices high

The U.S. housing market is defying expectations of a crash this year as limited inventory and high demand keep prices high. That is according to Fannie Mae economists, who predicted in a revised forecast that home prices will fall at a slower…

Looking for a housing price crash? That’s unlikely, real estate economists say

The nation‘s housing market is going through a correction, not a crash. While sales are down and mortgage rates are up, home prices are still rising because there are so few homes for sale. And after a decade of rising prices, commercial…

Agents gauge State Farm’s exit from home insurance market

With State Farm’s announcement that it will stop writing new home, business and casualty insurance in California, some L.A. agents anticipate that it will change the process of home sales, while others take a wait-and-see approach. The…