L.A. real estate news and insights.
When Newsweek viewed Google Trends data, it found that interest in the term "housing crash" was at its highest point in July compared to any other time on a graph that dated to January of 2004.
Interest was also significantly higher when compared to months in 2007 and 2008.
When the housing market crashed in 2008, it led to an economic crisis that became known as the Great Recession.
How long will this last?!?
The 30-year fixed-rate mortgage dipped below 5% for the first time in nearly 4 months averaging 4.99% for the week ending August 4.
Supply constraints and a tight labor market will likely push rates back up, especially since the Fed is determined to bring inflation down even at a cost of a slight economic downturn.
Source: California Association of Realtors
The value of Los Angeles County properties has reached a record close to $1.9 trillion.
The county’s total assessed property value for 2022 grew by a record $122 billion to $1.89 trillion, the San Gabriel Valley Tribune reported. The increase doubled last year’s growth of $63 billion.
This is the 12th consecutive annual increase.
