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Record Inflation and Rising Interest Rates Prompt Housing Market Downturn

Buyers are finding they can't afford as big a mortgage as they could just a few months ago, and sellers are being forced to reduce their asking price.

United statesSherman oaksLos angelesMike closkyElizabeth kluft badwayLindsay katzDiana olickInside editionReal estate

Real Estate newsletter: A hot market starts to cool

This week's roundup includes a look at the latest signals of a slowing market, as well as a pair of blockbuster sales on the Westside.

Carmel by the seaUnited statesHidden hillsOtay ranchChula vistaAnthony barceloAndrew khouriFrank sinatraRonald reaganDara mirJared goffLos angelesJeff elsonLilly ghalichiBetty whiteMike kelley

Home price cuts are rising as high mortgage rates slam buyers

In a significant shift in the market, fewer homes are going into escrow, inventory is rising and sellers are increasingly cutting their asking prices.

Santa claritaUnited statesWoodland hillsLos angeles countySanta monicaSilver lakeSan bernardinoLos angelesHancock parkTregg rustadMel melcon los angelesRobert gauthier los angelesKeller williamsHeather preshaDerek oieTaylor marr

Home Listings Spike as Sellers Look for Buyers While Prices Remain High

There has been an increase in home listings during recent weeks as sellers jump to cash in on the current high home prices.

Freddie macLos angelesNaveen athrappullyLindsay katzDaryl fairweatherDepartment of housingUs census bureauAltos researchRedfin chief economist darylHome listingsHome pricesHousing marketMortgage interest ratesSingle familyThe epoch times

Sellers are slashing prices at levels not seen since before the pandemic as market rapidly cools

There are signs that the previously red hot US housing market is cooling with the prospect of home prices nearly halving in some parts of the country.

United statesNew yorkSan diegoCape coralSan franciscoLos angelesDanielle haleErin sykesMark zandiMichael burryLindsay katzDaryl fairweatherNational association of realtorsFederal reserveFortune magazineNest seekers international

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