Author: Bahram Irani

It’s encouraging to see US new home sales climbing to 684,000 annualized units—surpassing the forecast of 615,000 and even outpacing the previous 643,000. This uptick points to a real surge in demand for newly built single-family homes and highlights growing consumer confidence. As someone who helps clients navigate the real estate landscape in La Crescenta, I pay close attention to shifts like these, since new home sales remain a key economic indicator. Factors like favorable mortgage terms, a resilient job market, and steady demographic demand are at work, and it’s good news for both buyers and sellers that construction supply chain challenges are easing. Stronger sales don’t just shape our local market—they also influence broader perspectives on growth, inflation, and economic health. Staying informed helps me provide personalized guidance, so my clients can make confident decisions at every step of their real estate journey.

California’s housing market is shifting into a more predictable rhythm, with home prices projected to rise at a modest pace—about 3% to 4% annually through 2028. It’s a welcome change from the volatility of recent years. Right now, active listings have reached around 156,300 homes, meaning buyers across California are seeing more options and feeling less pressure to rush decisions, as supply is expected to continue building through 2027.

Still, affordability remains a significant challenge: only about 18% of California households currently qualify for a typical mortgage, down from approximately 31%. As a result, competition for entry-level homes stays fierce. Homes are generally selling close to 100% of their asking price, with 30-year fixed mortgage rates hovering near 6%—a range anticipated to continue.

For those in major urban hubs like Los Angeles County, returning to earlier sales activity may take until after 2028. But for many, especially here in communities like La Crescenta, these steadier conditions signal a new era of predictability and opportunity. As I continue to guide buyers and sellers through each step of their real estate journey, my focus remains on providing the personalized attention that helps clients navigate this evolving landscape with confidence.

As someone deeply invested in guiding clients through the unique landscape of Los Angeles real estate, I’m always watching for signs that the market might become more accessible. Right now, high home prices and limited affordability continue to shape our area, but there’s reason to be cautiously optimistic. If price growth slows, we could see more opportunities for buyers who have been waiting for the right moment. With inventory still tight, demand should remain steady, though higher borrowing costs are holding some households back. Should mortgage rates ease in the coming years, more buyers may find their way back into the market, boosting activity and nudging things toward a healthier balance. Looking ahead to 2027, the hope is for improved affordability, rising incomes, and lower financing costs—not another surge in prices. My commitment is to help clients navigate these shifts with the local insight and personal attention they deserve.

Indigenous Peoples’ Day celebrates, recognizes, and honors the beautiful traditions and cultures of the Indigenous People
We take a stand for and support the indigenous people on this day.
We should also offer our support to those who invest and uplift the indigenous communities.

Builder confidence across the U.S. has reached its lowest point in a year, with the late Q3 builder-confidence index dropping 3 points to 32. Sales conditions have softened too, now at 35, and expectations for the next six months dipped to 37. Prospective buyer traffic remains steady at 23. Interestingly, 38% of builders nationwide have reduced prices, while two-thirds are using incentives—up from 63% in mid-Q3—to help buyers make the leap. At the same time, mortgage applications for new-home purchases have declined for the fifth consecutive month as average 30-year rates linger in the high-6% range. Large builders are responding by offering rate buydowns, which allow buyers to secure below-market mortgage rates without relying entirely on price cuts. With 30-year rates hovering near 7% in late Q3, two leading housing forecasters expect these elevated rates to continue through 2027. As someone who closely follows the La Crescenta real estate market, I see how these national trends can influence our own local landscape and shape opportunities for buyers and sellers alike. Navigating these shifts with care and local insight remains essential to finding the right path forward.

Housing affordability is on everyone’s mind, and the latest trends highlight just how much the landscape is shifting. We’re seeing a bit of housing disinflation: sellers are starting to offer more concessions, which can mean real savings for those determined to achieve homeownership. But the biggest challenge remains borrowing costs—benchmark Treasury yields are hovering near 5%, and average 30-year mortgage rates have edged above the low 7% range. In the four weeks ending September 13, the median monthly mortgage payment climbed to about $2,600, up roughly 3% from last year, which really shows how financing is continuing to stretch buyers’ budgets.

Inventory remains tight, especially here in our La Crescenta neighborhoods, as many homeowners with low-rate loans are choosing to hold onto their properties, keeping listings scarce. At the same time, sellers are often still aiming for those pandemic-era price points. What we’re experiencing isn’t a crash, but more of a correction—a move toward stability, as industry experts note. With strong homeowner equity and sound lending practices, there are still meaningful opportunities out there, whether you’re buying or selling. My approach is always about guiding you through these market shifts with the personalized attention you deserve.