5,377 existing and new residences sold, down 29% from December and down 6% from start of 2021.
Los Angeles County house hunters bought less and paid less in January.16,461 residences — existing and newly constructed — sold in six counties, down 28% for the month, and down 8% over the past year, according to DQNews.As for Los Angeles County, here is what my trusty spreadsheet found within the DQNews report on closed transactions for January …How fast?8% above the 10-year average buying pace for January.
3,688 sold, down 6% in a year. Median of $850,000 — a 13% increase over 12 months.1,442 sales, down 6% over 12 months. Median of $645,000 — a 15% increase in a year.Builders sold 247 new homes, down 6% in a year. Median of $883,500 — a 19% increase over 12 months.How cheap is money? Rates on a 30-year, fixed-rate mortgage averaged 3.21% in the three months ending in January vs. 2.74% a year earlier. That translates to 6% less buying power for house hunters.
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