#los-angeles-housing

#los-angeles-housing

When the blazes displaced thousands of residents in and around Pacific Palisades and Altadena, landlords hiked up rental prices across Los Angeles County despite calls from officials to crack down on price going, the Los Angeles Times reported, citing data from Rent Brigade. The tenant advocacy group analyzed Zillow listings in the year after the fires and found 18,360 potential instances of rent hikes exceeding 10 percent, potentially violating the anti-gouging rules signed by Gov. Gavin Newsom on Jan. 7, 2025, the day the fires broke out.

In 2021, during the peak of the pandemic housing market that saw L.A. home prices skyrocket, The Times compiled a list of the newest neighborhoods to join the proverbial "million-dollar club," where the typical single-family home value is above $1 million. Five years later, plenty more have made the cut. Whereas the previous group featured trendy L.A. neighborhoods (Echo Park, Highland Park), South L.A. enclaves (Crenshaw, Leimert Park) and slices of the San Fernando Valley (Porter Ranch, Woodland Hills),

The Los Angeles metro housing market remains tight, but prices show early signs of softening as new listings come in below current medians. HW Data shows about 1,437 single-family homes sold last week, underscoring steady demand even as affordability remains a challenge. The Market Action Index registered 41.5 last week, signaling firm competition among buyers. HW Data's Market Action Index measures the balance between supply and demand, with values above 30 indicating a seller's market. Supply remains tight.