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Real Estate

Typical Homebuyer’s Mortgage Payment Up 15% Since Mid-August

September 29, 2022 September 29, 2022 by Tim Ellis Sellers should adjust their price to stay competitive as mortgage rates approach 7%. The typical homebuyer’s...

Expansion set for old Hollywood studio amid surging demand for L.A. soundstages

A historic Hollywood studio site where such stars as Rudolph Valentino and Lillian Gish made silent films is poised for a $600-million comeback in...
Real Estate

L.A. moves closer to ending COVID-19 eviction protections

Some of the country’s longest lasting COVID-19 protections against eviction moved closer to ending Wednesday when a Los Angeles City Council committee advanced a...
Real Estate

California allows affordable housing on some commercial properties

In a historic deal between affordable housing groups and labor unions, Gov. Gavin Newsom signed two major bills on Wednesday to convert underutilized...

Homebuyers Grapple With Most Volatile Mortgage Rates in 35 Years

A house hunter looking for a $500,000 home saw their potential total mortgage payment fall by $64,000 from July to August, and then jump...

Affordable Midwest and East Coast Markets Are Holding Up Best as the U.S. Housing...

Chicago, Albany and Milwaukee are among the housing markets holding up better than others as the U.S. faces high mortgage rates and an uncertain...

Two-Thirds of U.S. Homebuyers and Sellers Want to Live Somewhere With Legal Abortion, Up...

A recent Redfin survey found that most homebuyers and sellers would prefer living in a place where abortion is legal, up significantly from before...

Sun Belt Homebuyers Backing Out of Deals at Highest Rate in U.S.

Sun Belt cities including Phoenix, Tampa and Las Vegas attracted scores of house hunters during the pandemic, driving up home prices. Now their housing...

UC housing crisis forces students into multiple jobs to pay rent, sleeping bags and...

Matthew Chin couldn’t wait to dive into the life of a UC Santa Cruz college student after the loneliness of online learning. But instead,...

California to ban parking minimums near transit

Citing the need to address California’s twin crises of housing affordability and climate change, Gov. Gavin Newsom signed a bill that bars local governments...

Bidding-War Rate Drops to Lowest Level Since April 2020

Just over 4 in 10 Redfin home offers faced competition in August, down significantly from a year earlier as 6% mortgage rates price buyers...
Real Estate

Los Angeles to reopen Section 8 housing voucher waiting list

The city of Los Angeles will be reopening the waiting list for its Section 8 housing vouchers program for the first time in five...

Redfin Launches in Hilton Head, South Carolina and Expands Listing Search to Over 95%...

Redfin agents are ready to start helping people buy and sell homes in Hilton Head, South Carolina! We launched our brokerage in South Carolina...

Rising Prices Amid Falling Demand and Supply Reflect a “New Weird”

September 22, 2022 September 22, 2022 by Tim Ellis Few people are choosing to buy homes with mortgage rates well above 6%; even fewer...

Luxury-Home Purchases Sink 28%, the Biggest Drop on Record

September 22, 2022 September 21, 2022 by Lily Katz The decline was roughly twice as severe in the Bay Area. High-end homebuyers are backing...

Homebuyers Lost Six Figures Worth of Spending Power This Year As Mortgage Rates Doubled

Raising rates is necessary to fight inflation, but buyers may need to get creative to afford a home with high monthly mortgage payments.   A homebuyer...

Asking Rents Climb 11% in August, the Smallest Gain in a Year

September 21, 2022 September 20, 2022 by Tim Ellis Rent growth is likely to keep slowing as rising interest rates continue to cool the...

Seattle’s Housing Market Is Cooling Faster Than Any Other in the U.S.

High mortgage rates, persistent inflation and economic uncertainty are cooling down expensive markets like Seattle and San Jose, along with pandemic homebuying hotspots like...

A Record Share of Homebuyers Relocate, Driven By Moves Away From Expensive Coastal Areas

High mortgage rates, persistent inflation and economic woes are making expensive parts of the country less attractive and relatively affordable places more popular. Migration...

85% of Mortgage Holders Have a Rate Far Below Today’s Level

Some Americans are hesitant to sell their homes as mortgage rates soar because they have a low interest rate locked in. That’s contributing to...

Plan to build surf park in Coachella Valley sparks debate

LA QUINTA, Calif.  —  In a part of the Coachella Valley where exclusive neighborhoods wrap around lush golf courses and ponds, a stretch...

Prospective Home Sellers and Buyers Retreated as Mortgage Rates Approached 6%

September 16, 2022 September 16, 2022 by Tim Ellis New listings fell 8% in August to their lowest level since May 2020. Prior to...

Nearly One-Third of U.S. Homes Are Bought With Cash, Well Above Pre-Pandemic Levels

The share of U.S. homes bought with all cash is down slightly from the peak reached earlier this year as the market cools, but...

Housing Market Update: Sellers Lose the Upper Hand as Mortgage Rates Top 6%

September 15, 2022 September 15, 2022 by Tim Ellis High mortgage rates have brought balance to the market, but it comes at a high...
Real Estate

L.A. County commits to ending eviction moratorium by year’s end

Los Angeles County will move forward with a plan to lift its pandemic-era eviction moratorium and other renter protections by the end of the...
Real Estate

Homeowner’s fence in Newport’s Back Bay sparks O.C. battle

Sloping down a dusty hill toward the Upper Newport Bay, where recreational enthusiasts share a path that runs alongside the marshy water, is a...
Real Estate

Moneta, Tropico, Lordsburg — where did L.A.’s phantom towns vanish to?

Ever driven around the vastness of Greater Los Angeles and seen the freeway offramp for the town of Gladysta? Or Terracina? How about the...
Real Estate

4 Luxury Amenities to Expect From Granada Hills Luxury Homes [2022]

Author: Courtney Korb Published on: 2022-09-12 11:25:00 Click HERE to read the entire LAHomes story In the San Fernando Valley region of Los Angeles, the Granada Hills...

Homebuyers Who See Flood-Risk Data Bid on Lower-Risk Homes

Redfin users who viewed homes with severe and/or extreme flood risk prior to a Redfin experiment proceeded to bid on homes with 54% less...

America Is Increasingly Building Homes in Disaster-Prone Areas

55% of homes being built today face fire risk, compared with 14% of homes built from 1900 to 1959, as suburbanization and a shift...

Mortgage Rate Spike Further Cools Homebuying and Selling

September 8, 2022 September 8, 2022 by Tim Ellis With mortgage rates reminiscent of 2008, homebuyers and sellers took a step back during the...

Mortgage Rates Have Nearly Doubled in the Last Year. Here’s the Bright Side For...

Home prices are down 6% from the record high they reached in June, bidding wars are at their lowest level in more than two...
Real Estate

4 Reasons to Live in Granada Hills: Golf, Hiking & More

Author: Courtney Korb Published on: 2022-09-06 08:58:00 Click HERE to read the entire LAHomes story On the northern expanses of sunny Los Angeles is the vibrant Granada...

California voters to decide on repeal of anti-public housing measure in 2024

Nearly 75 years after amending the state Constitution to make it harder to build public housing, California voters will have a chance to repeal...
Real Estate

Hudson Pacific buys Quixote Studios in $360-million deal

The operator of Sunset Studios, Hudson Pacific Properties, has acquired Quixote Studios for $360 million, significantly expanding its footprint in the soundstage business.The Los...

Typical Home Now Sells For Less Than Asking Price

September 1, 2022 September 1, 2022 by Tim Ellis The average sale-to-list ratio fell below 100% for the first time since March 2021 and...

Millennial and Gen Z Renters Have Personal Inflation Rates Above 11%, Compared with 8.5%...

Inflation is hitting young renters hard because the cost of rent and other expenses has increased much faster than their incomes. Millennials who took on...
Real Estate

How to find affordable housing in high-profile developments

Los Angeles has far too little housing, especially of the affordable variety. A 2021 study by the California Housing Partnership found that nearly 800,000...

How Redfin Ended Up on a Reality TV Show

This Friday, Netflix is premiering six episodes of a reality-TV show featuring Redfin. On the show, called Buy My House, people try to sell...

More People Are Moving in Than Out Places Facing Harsh Drought

74% of U.S. metros with more than half of homes facing intense drought saw more people move in than out this year.  An estimated $17...
Real Estate

More California cities enact rent control to protect tenants

When Bell Gardens resident Monchis Curiel got a notice last year from her landlord that rent for her three-bedroom apartment would more than...
Real Estate

‘Fast and Furious’ director Justin Lin sells loft for $5.5 million

Director Justin Lin just closed the priciest deal ever for a condo in downtown L.A.’s Arts District, selling his penthouse loft for $5.5 million.It’s...

More Sellers Retreat Amid Falling Prices, Volatile Mortgage Rates

Would-be sellers are reluctant to list their homes as they have begun to see prices come down. With few new listings, buyers’ newfound bargaining...

70% of Boise Home Sellers Dropped Their Asking Price in July

Home sellers in pandemic homebuying boomtowns like Boise, Salt Lake City and Sacramento increasingly dropped prices as buyers backed out of the market. A high...

July Home Sales Dropped 19% Year Over Year to Lowest Level Since Mid-2020

Buyers backed off amid high mortgage rates and economic uncertainty. New listings were also down, with some prospective sellers staying put as price growth...

Growth in U.S. Asking Rents Slows for Second-Straight Month

The 14% increase in July was the smallest since November as landlords reacted to shrinking tenant budgets. While rents in the U.S. hit another record...

Housing Slowdown Starts to Ease as Fewer People List Homes

A number of metrics that reflect a cooling market are now leveling off—among them, housing supply and the share of sellers slashing their list...

Investor Home Purchases Plateau But Remain Well Above Pre-Pandemic Levels

Investors scooped up more homes in the second quarter than before the pandemic, but purchases leveled off from their 2021 peak as investors reacted...

Here’s where California’s cliffs are collapsing the fastest

Cliffs along California’s northernmost coast have been eroding faster than the more populated bluffs of Southern California — one of many conclusions highlighted in...
Real Estate

How L.A. became land of single-family — and singular — homes

Across the COVID epoch, as we’ve been expanding our range from house-hunkering to house-hunting, we’ve needed decoder rings to translate real estate-speak, a language...

Caruso’s firm battles a studio expansion near the Grove

As a candidate for mayor, real estate developer Rick Caruso has spoken of the need to keep entertainment productions within the city of Los...

Homebuyers Are Increasingly Backing Out of Deals to Buy Homes

About 63,000 home-purchase agreements were called off in July, equal to 16% of homes that went under contract that month. That’s the highest rate...
Real Estate

Ben Affleck wants $30 million for Pacific Palisades mansion

Ben Affleck is offering up his bachelor pad in Pacific Palisades, listing a traditional-style mansion along the links of Riviera Country Club for $30...
Real Estate

California rents spiking — and not only where you’d expect

When Santa Monica resident Rob Leonard got a notice telling him that rent for his one-bedroom apartment would go up $100 a month starting...

Homebuyer Competition Slumps to Lowest Since 2020

Higher mortgage rates and home prices are pushing some house hunters out of the market, leaving those who remain with more options and negotiating...

8 Locals Love Granada Hills

Author: Courtney Korb Published on: 2022-08-11 13:15:00 Click HERE to read the entire LAHomes story Located 30 minutes north of Downtown Los Angeles, the Granada Hills community...

Home Listings Fall Most Since 2020

New listings are down 12% from a year ago as sellers respond to waning homebuyer demand. Still, overall housing supply is on the rise—a...
Real Estate

In Little Holmby, a Paul R. Williams gem lists for the first time in...

Few architects have left a larger mark on Southern California’s architectural landscape than Paul R. Williams. The prolific builder worked on thousands of projects...

The Share of Homebuyers Relocating Jumps to New Record

San Diego and Portland, Maine are picking up in popularity with out-of-town buyers, while movement into Miami, Sacramento and Phoenix is slowing. Plus, fewer...
Real Estate

‘American Idol’ creators list Paso Robles vineyard for $22 million

Ken Warwick and Nigel Lythgoe were exhausted.The two “American Idol” producers had just wrapped up a stint in San Francisco, the last stop of...

Steps to Building a Pool: From Permits to Construction

Author: Courtney Korb Published on: 2022-08-10 08:47:00 Click HERE to read the entire LAHomes story A backyard pool can be an excellent asset for any home. Not...

A Growing Share of Home Listings Are Stale As Market Cools

A dearth of buyers and relatively few new listings are leading to an uptick in homes sitting on the market longer than a month....
Real Estate

For their developmentally disabled son, an ADU offers hope

Walking into the sunlit accessory dwelling unit just steps from his family’s home in Culver City, Adrian Perez places his hands on the wall...

Early Stage Demand Picks Up, Rates Fall Below 5%

Measures of homebuyer activity such as online searches, requests for tours and agents’ help, and mortgage applications rose as mortgage rates fell below 5%. More...

The Typical Income of a Boise Homebuyer is 24% Higher Than Before the Pandemic

Homebuyer incomes soared in pandemic boomtowns like Boise, Austin and parts of Florida, largely due to remote workers moving in from pricey job centers....

Column: A $50-million condo in L.A.’s land of tents

Just when we thought the real estate market had cooled, along comes evidence that in the land of make-believe, there is no ceiling.My colleagues...
Real Estate

California rents could skyrocket 10%. Blame inflation

When Antioch, Calif., resident Teresa Cardenas found a notice on her door May 31 informing her that starting Aug. 1 her rent would go...

Meet Redfin’s Head of Industry Relations

We’re pleased to announce Joe Rath is our new director of industry relations! In his new role, Joe will build Redfin’s relationships with multiple...

Home Searches and Tours Tick Up

Since mortgage rates came down from their June high, measures of early demand like online real estate searches and home tours have ticked up...

Newcomers to Philadelphia Have Nearly 40% More to Spend on Homes Than Locals

Out-of-towners have bigger budgets than locals in relatively affordable destinations like Philadelphia, Atlanta and Dallas because many are remote workers moving in from more...
Real Estate

L.A. County General Hospital is set to become affordable housing

Los Angeles County officials are moving forward with a plan to convert the mostly vacant General Hospital building, on the site of L.A. County-USC...

‘Gimme Shelter’: The new COVID normal for California tenants

In Los Angeles, many tenants are still protected against eviction for not paying rent and from rent increases. But in many other parts of...
Real Estate

Essential Things to Look For

Author: Courtney Korb Published on: 2022-07-27 07:15:00 Click HERE to read the entire LAHomes story Anyone who finds themselves in the position to be a home's first...

Pandemic Homebuying Hotspots With Steep Price Increases Most Susceptible to Housing Downturn in a...

Riverside, Boise, Phoenix and Tampa are among the markets where homeowners stand to lose some of the value they gained over the past two...
Real Estate

Pool Bars, Tanning Ledge & More

Author: Courtney Korb Published on: 2022-07-25 13:24:00 Click HERE to read the entire LAHomes story Having a home with a pool to enjoy with your household and...

More people of color are finding peace in the Inland Empire

MORENO VALLEY, Calif. — My ideas about the Inland Empire have always been seeded with a prickly skepticism.As far as I was concerned, passing through towns...
Real Estate

Tinder’s Sean Rad pays $35 million for stunning estate

Not many homes look like Yvette Mimieux’s. Not in Southern California. Not anywhere.The colorful Bel-Air compound — a bohemian bouquet of art and architecture...

Berkeley’s ‘Disney-esque’ Enclave Apartments sell for over $100 million

A student housing apartment complex in Berkeley known for its unusual, castle-like design has sold for more than $100 million to a group led...
Real Estate

Best Value in Rose City

Author: Courtney Korb Published on: 2022-07-21 11:49:00 Click HERE to read the entire LAHomes story The city of Pasadena, California, boasts a population of just over 140,000...

Homes Are Taking Longer to Sell

Buyers can now take their time touring and considering homes before making an offer. Still, selection remains very limited despite supply being up, as...

Homebuyer Competition Drops to Lowest Level in Over Two Years

The bidding-war rate dipped below 50% for the first time since the start of the pandemic in June as rising mortgage rates and inflation...

Migration Hotspots Have the Highest Inflation Rates

Phoenix, Atlanta, Tampa and Miami, all Sun Belt metros popular with relocating homebuyers, have the highest inflation rates in the country. Housing prices make...

Southern California home prices, sales dropped in June

Southern California home prices and sales edged lower in June from the month before, adding to the pile of evidence that the housing slowdown...

A Record Share of Homebuyers Relocate

Homebuyers are seeking out less expensive locales like Tampa and San Antonio, partly because the surging cost of housing and other goods is limiting...

Sofia Vergara shoots for $19.6 million in Beverly Hills

Married actors Sofia Vergara and Joe Manganiello have hung a $19.6-million price tag on their stylish mansion in Beverly Hills — nearly double the...

Prices Begin to Fall from Record Highs

Inflation and high mortgage rates are taking a bite out of homebuyer budgets, leading to fewer sales and supply gains. The median sale price for...

Typical Cleveland Energy Bill Equals Nearly One-Third of Mortgage Costs

Nationwide, energy costs are taking up a smaller portion of homeowner expenses because they’re not surging nearly as quickly as housing prices. The typical U.S....
Real Estate

What $700,000 buys in seven areas around Los Angeles

Don’t look now, but Southern California’s hot housing market might be cooling off. Sales are down, inventory is up and some properties are even...

‘Gimme Shelter’: In drought, does California have enough water for lots of new homes?

Tear up your lawn. Do fewer loads of laundry. Don’t flush the toilet unless you have to.This is all advice Californians have received in...

Bay Area Housing Markets Are Cooling Faster Than Anywhere Else

San Jose, Oakland and San Francisco are among the fastest-cooling housing markets in the U.S. as mortgage rates remain above 5% and the stock...

Balance Is Returning to the Housing Market

Homebuyers are getting some relief as sellers slash their prices at a record rate and mortgage rates drop following months of increases. After months of...
Real Estate

In Malibu, an actor’s one-bedroom home aims for $18.45 million

Malibu is a market without precedent. The coastal community boasts some of the most sought-after real estate in the country, and as a result,...

4 LA Condos With Luxury Swimming Pools

Author: Courtney Korb Published on: 2022-07-06 09:14:00 Click HERE to read the entire LAHomes story The Los Angeles community is a coastal desert city that enjoys great...

California’s eviction moratorium has expired. What now?

Several deadlines and extensions have come and gone under California’s COVID-19 eviction moratorium. The statewide tenant protection for renters expired last week, two years...

Scores of People Bought Disaster-Prone Vacation Homes During Pandemic

Purchases of second homes with high flood, storm and/or heat risk surged roughly 40% over the past two years.  Many pandemic homebuyers purchased vacation homes,...

How Rising Rates and Economic Uncertainty Could Impact the Housing Market

Redfin economists answered questions about what’s likely to happen in the housing market as the economy stumbles.  High mortgage rates will likely keep homebuyer demand...

Asking Prices Come Down from All-Time High

A record-high share of home sellers are dropping their prices after this month’s historic mortgage-rate hike put a damper on homebuyer activity. But there...
Real Estate

Granada Hills North or Granada Hills South? How to Choose

Author: Courtney Korb Published on: 2022-06-30 09:14:00 Click HERE to read the entire LAHomes story The Granada Hills community may not be the best-known of Los Angeles'...

Southern California home prices will fall, some experts say

Rising mortgage rates have slowed the housing market across the nation and Southern California. Sales are down, inventory is rising and many prospective buyers...

How to Decorate Your Home Like a Celebrity

Author: Courtney Korb Published on: 2022-06-27 12:52:00 Click HERE to read the entire LAHomes story While many people can only dream of living life in the limelight,...

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