Housing Market Update: Sales and Prices in Southern California, US, and GTA.
TL;DR Summary
Home prices in Southern California have been rising in recent months, with buyers returning to the market and sellers holding off on listing their homes. The total number of homes for sale has dropped 21% since the start of the year, leading to increased competition among buyers. However, prices are still lower than their peak in 2022, and experts predict that high mortgage rates and a slowing economy will keep prices from soaring. There is still potential price risk in the market.
- Southern California home prices have been falling. Are the drops over? Los Angeles Times
- Lack of resale houses continues to frustrate homebuyers in April Yahoo Finance
- US pending home sales held steady in April CNN
- What new home sales numbers could mean for buyers and the economy The Hill
- GTA new home market starts to return to normal in April GlobeNewswire
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