As the Pacific Palisades wildfires tore through the area, the California Association of Realtors predicts a 10.5% increase in single-family home sales by 2025.
Despite the devastation caused by the wildfires, the California housing market shows a forecasted 4.6% increase in median home prices, indicating resilience in demand.
For homeowners in volatile fire zones like Pacific Palisades, the recent wildfires may push them to sell, though potential buyers might be deterred by the risks.
2024 saw over 62,000 wildfires across the county, burning more than 8.8 million acres, slightly below the 10-year wildfire average, but notably higher in acres burned.
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