Home Sales Climb Across Los Angeles Metro Region, Statewide

Fueled by the lowest interest rates since spring, home sales in the Los Angeles metro region and the state as a whole rebounded in July to reach a five-month high, the California Association of Realtors (CAR) announced Aug. 20. July’s sales pace rose 3.6 percent from the revised 270,200 homes sold in June and were up 4.1 percent from a year ago, when a revised 268,840 homes were sold annually. The sales pace has remained below the 300,000 threshold for 22 consecutive months, and year-to-date home sales edged up 0.2 percent from the first seven months of 2023, according to statewide figures. The median price of a single-family home slipped in July for the second month in a row, after setting a record high in May. July’s median price dipped 1.6 percent from $900,720 in June to $886,560 statewide....