Market Update For March 2018

New residential real estate activity has been relatively slow in the first quarter of 2018, yet housing is proving its resiliency in a consistently improving economy. Some markets have had increases in signed contracts, but the vast majority of the nation continues to experience fewer closed sales and lower inventory compared to last year at this time. Despite there being fewer homes for sale, buyer demand has remained strong enough to keep prices on the rise, which should continue for the foreseeable future.

New Listings were down 15.2 percent for Single Family homes and 8.6 percent for Townhouse-Condo properties. Pending Sales decreased 40.9 percent for Single Family homes and 50.7 percent for Townhouse-Condo properties.

Residential activity in all PWR areas of Los Angeles and Orange Counties, comprised of single-family properties and townhome- condominiums.. Percent changes are calculated using rounded figures.

Provided by Pacific West Association of REALTORS^®