CNBC reports that US existing home sales fell unexpectedly for the second straight month. #realestate #market #us
The National Association of Realtors announced on Wednesday that existing home sales slipped 0.4%, the second straight monthly decline in sales.
The L.A. Loft Blog recently reported that prices are down sharply in Toronto, and the New York City luxury market is soft. There are also signs of a possible plateau in the West Los Angeles luxury market.
Interest rates have risen a bit. Fed Chairman Jerome Powell said the U.S. central bank should continue with a gradual pace of rate increases.
Downtown Los Angeles home prices continue to rise. DTLA home owners have an advantage, as the area has previously proven to be more resilient than most U.S. neighborhoods regarding home prices.
Meanwhile, rents are up 5% in the last year. And home prices in the Arts District are up.
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