Lisett Herrera- Real Estate Agent at West L.A

10/22/2023

Home prices aren't falling. They're just rising slower and going back to normal seasonal trends. That's a good thing.

If you're wondering what’s happening with home prices, know they’re still rising, just at a slower pace – and that’s perfectly normal for this time of year.

09/21/2023

Buying and owning your own home can have a big impact on your life.

09/20/2023

According to the experts, home prices are expected to grow over the next five years at a more normal pace. Be informed 👇

If you're planning to buy a home, one thing to consider is what experts project home prices will do in the future and how that might affect your investment.

08/21/2023

The National Association of Realtors (NAR) is set to release its most recent Existing Home Sales (EHS) report tomorrow. This monthly release provides information on the volume of sales and price trends for homes that have previously been owned. In the upcoming release, it’ll likely say home prices are down. This may seem a bit confusing, especially if you’ve been following along and reading the blogs saying home prices have hit the bottom and have since rebounded.

So, why would this say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology of each one. NAR reports on the median home sales price, while some other sources use repeat sales prices.

Bill McBride, Author of the Calculated Risk blog, sums the difference up like this: “Median prices are distorted by the mix and repeat sales indexes like Case-Shiller and FHFA are probably better for measuring prices.”

To drive this point home, here’s a simple explanation of median value. Let’s say you have three coins in your pocket, and you decide to line them up according to their value from low to high. If you have one nickel and two dimes, the median value (the middle one) is 10 cents. If you have two nickels and one dime, the median value is now five cents.

In both cases, a nickel is still worth five cents and a dime is still worth 10 cents. The value of each coin didn’t change.

That’s why using the median home sales price as a gauge of what’s happening with home values may be confusing right now.

For a more in-depth understanding of home price trends and reports, DM me.

The National Association of Realtors (NAR) is set to release its most recent Existing Home Sales (EHS) report tomorrow.

08/11/2023

OPEN HOUSE 08/19/2023
12:00 pm - 3:00 pm

16527 Pear Blossom CT
Whittier CA 90603

07/31/2023

While this isn’t the frenzied market we saw during the ‘unicorn’ years, homes that are priced right are still selling quickly and seeing multiple offers right now.

07/30/2023

What's happening in the housing market?

If you’re considering buying or selling a home, you’ll want to know what’s happening in the housing market.

05/24/2023

You’re probably feeling the impact of high inflation every day as prices have gone up on groceries, gas, and more.

04/20/2023

As the housing market continues to change, you may be wondering where it’ll go from here.

04/12/2023

The spring season appears to be warming up in housing as more and more buyers enter the market. 

04/06/2023

We’re still in a sellers’ market.

03/29/2023

Throughout Women’s History Month, we reflect on the impact women have in our lives, and that includes impact on the housing market.