Big price gains outpaced by larger home price increases
Homes sales bounced back in September and prices remained near a record, but the gains are slowing, according to the California Association of Realtors.
3.05% vs. 2.81% a year ago. Rates are at the highest level since April 2021.
$808,890 in September, up 13.5% from a year ago
Days on market
10 days in September vs. 11 a year ago
Profits drop for flippers as prices soar
A bit of optimism for home shoppers looking to buy, with more homes listed in recent months and near-record-low mortgage rates holding steady.
Plus, an LA mega-mansion seeking $500 million enters receivership with a mountain of debt, some rents rebound from the pandemic, and San Diego home prices surge.