by Kathy Gibson | Jun 24, 2024 | Buying, Home and Garden, Market, Neighborhood, Selling
It seems like inflation might be cooling off for the rest of the year, which could help stabilize mortgage rates. The Federal Reserve decided to keep rates steady for now, but they’re expected to cut them later this year, just not as much as we initially thought. As a result, home sales should improve in the second half of the year, though the growth will be slower than previously projected. Pasadena, CA Mon Jun 24 2024 This week the median list price for a single family home in Pasadena, CA is $1,890,000 with the market action index (MAI) hovering around 53. This is less than last month’s market action index of 55. Inventory has increased to 98. The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices....
by Kathy Gibson | May 13, 2024 | Buying, Market, Neighborhood, Open House, Selling
The Federal Reserve kept the fed funds rate unchanged at their last meeting, pointing to a robust economy and stagnant inflation. However, a disappointing 175k job additions hint at a cooling labor market. With the Fed signaling rate hike unlikelihood and weaker jobs data, mortgage rates fell to early April lows, raising hopes for declining rates in H2 2024. Pasadena, CA Mon May 13 2024 This week the median list price for a single family home in Pasadena, CA is $1,982,000 with the market action index hovering around 57. This is an increase over last month’s market action index of 54. Inventory has increased to 78. The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend....
by Kathy Gibson | May 6, 2024 | Buying, Home and Garden, Market, Neighborhood, Selling
Pasadena, CA Mon May 06 2024 This week the median list price for a single family home in Pasadena, CA is $2,188,000 with the market action index hovering around 57. This is an increase over last month’s market action index of 53. Inventory has increased to 73. The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current...
by Kathy Gibson | Apr 29, 2024 | Buying, Market, Neighborhood, Open House, Selling
Pasadena, CA Mon Apr 29 2024 This week the median list price for a single family home in Pasadena, CA is $1,980,000 with the market action index hovering around 55. This is an increase over last month’s market action index of 53. Inventory has increased to 79. The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend....
by Kathy Gibson | Apr 22, 2024 | Buying, Home and Garden, Market, Neighborhood, Open House, Selling
Pasadena, CA Mon Apr 22 2024 This week the median list price for a single family home in Pasadena, CA is $1,900,000 with the market action index hovering around 54. This is an increase over last month’s market action index of 52. Inventory has increased to 77. The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend. ...
by Kathy Gibson | Apr 15, 2024 | Buying, Market, Neighborhood, Open House, Selling
We remain in a paradoxical environment where the ongoing strength of the U.S. economy raises concerns for the housing market. Strong jobs numbers last week were followed by equally strong inflation numbers this week, and then retail spending numbers exacerbated concerns that any rate cuts from the Fed would not come until the second half of the year, if at all. Pasadena, CA Mon Apr 15 2024 This week the median list price for a single family home in Pasadena, CA is $1,724,000 with the market action index hovering around 53. This is an increase over last month’s market action index (MAI) of 52. Inventory has decreased to 66. In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb....