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The Fed to reset the U.S. housing market through a ‘difficult correction’—5 things to know about the plan

BY LANCE LAMBERT September 22, 2022 5:31 AM EDT https://fortune.com/2022/09/22/housing-market-federal-reserve-reset-through-difficult-housing-correction-home-prices/amp/ Fed Chair Jerome Powell told reporters back in June that spiking mortgage rates would see the Pandemic Housing Boom fizzle out. In the eyes of Powell, that would be a good thing. “I’d say if yo...

U.S. Existing-Home Sales Fall Again as Housing Downturn Gathers Steam

By Aarthi Swaminathan Oct 20, 2022 The numbers: U.S. existing-home sales fell 1.5% to a seasonally adjusted annual rate of 4.71 million in September, the National Association of Realtors said Wednesday. This is the eighth straight monthly decline, the first since 2007. The decline was in line with economists forecasts, according to a Wall Street Journal survey. The la...

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Mortgage rates fall to under 7% after inflation report!

Today the Consumer Price Index was released at 7.7%. What does this mean for mortgages and real estate? It means the fight for inflation is showing signs of working. The work the fed is doing is slowing the rate of inflation. However, inflation is still not going away. This is still far from the Federal Reserves target inflation rate of 2%. This is a good sign that inflation could be beginni...

With an End to Eviction Protection Looming, LA City Council Votes on New Proposals

Update #2: LA County Votes to Extend Eviction Protection Measures By Two Months The news is changing faster than we can update, folks. It appears Los Angeles County (not to be confused wit the city) has just held a last minute vote to further extend COVID-era protections by two months. The new expiration date (at least for now) is March 31, 2023. Update #1: LA City Council Votes to Expand...

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LA ranks near bottom of 2023 residential market forecast

Los Angeles / Trevor Bach December 08, 2022 02:31 PM With just weeks to go before the new year, Realtor.com on Thursday published its 2023 housing forecast for the country’s 100 largest metro areas — and L.A. ranks near the bottom. The website’s model incorporates data from local housing markets and the economy to predict year-over-year overal...

Good Time for Investors to Unload

Real estate investors have done well. Rents have risen and home price appreciation has been quite exceptional. In the past three years, the typical rental rate and typical home price have soared by 16.4% and 35.5%, respectively. Over the past five years, those figures are 24.9% and 50.8%. These returns were occurring at a time of low-cost financing. Now it’s time for investors to sell....

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How much you pay to buy or sell a home may be about to change. Here's what you need to know........

https://www.usatoday.com/story/money/personalfinance/real-estate/2023/11/02/real-estate-agent-commission-may-change/71312251007/ How much you pay to a real estate agent to buy or sell a home is likely to go down after a victory for consumers in a federal trial in Missouri earlier this week.  A jury in a case against the National Association of Realtors and several large bro...

What the NAR Settlement Means for Home Buyers and Sellers

Updated May 24, 2024 https://www.nar.realtor/competition-in-real-estate/what-the-nar-settlement-means-for-home-buyers-and-sellers On March 15, The National Association of REALTORS® (NAR) reached an agreement with plaintiffs that would, if approved by the court, end litigation of claims brought on behalf of home sellers related to broker commissions. The Settlement also includes some c...

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How the NAR Settlement Is Changing Homebuying and Selling

By Aly J. Yale Edited by Dawn Bradbury Reviewed by Liisa Rajala Aug. 15, 2024, at 2:04 p.m. https://realestate.usnews.com/real-estate/articles/what-the-2-billion-realtor-lawsuit-means-for-homebuyers-and-sellers   A shakeup is looming for the real estate industry as new rules take effect this week that change how agents get paid – and it could mean...

December Real Estate Housing Update 2024

As we approach the end of 2024, the real estate landscape in Los Angeles County is shaped by the interplay of interest rates, home prices, and affordability. Here’s an overview of current trends and projections for the next 60 to 90 days. Current Mortgage Rates As of December 5, 2024, the average interest rates for Los Angeles County are: • 30-year fixed-rate mortgage: Appro...