5,348 existing and new residences sold, down 1% from January and down 6% from 2021.
8% above the 10-year average buying pace for February.Since 1988, a typical February sees a one-month sales drop 71% of the time with an average 2.6% decrease from January.89,829 Los Angeles County purchases — 24% above the previous 12 months and 16% above the 10-year average.3,560 sold, down 6% in a year. Median of $870,000 — a 13% increase over 12 months.
1,490 sales, down 4% over 12 months. Median of $665,000 — a 16% increase in a year.Builders sold 298 new homes, down 13% in a year. Median of $802,000 — a 11% increase over 12 months.How cheap is money? Rates on a 30-year, fixed-rate mortgage averaged 3.44% in the three months ending in February vs. 2.74% a year earlier. That translates to -8% less buying power for house hunters.
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