In Early-Q3, LA County's existing single-family median reached $888.1K, sitting just below the $900K threshold after a yearly ↓2.6% from the $911.4K reading.
LA County sales activity also cooled in Early-Q3, with existing home sales ↓0.9% yearly as affordability pressures continued limiting buyer purchasing power.
Analysts tied the slowdown to prices holding near $900K and mortgage rates staying elevated, conditions that kept monthly payments high and recovery constrained.
Mortgage rates averaged in the upper-6% range in Early-Q3, briefly touching a 12-mo peak before easing slightly, though borrowing costs still challenged buyers.
Looking ahead, expanding inventory and rates easing from peak levels could create more favorable conditions for LA County buyers in the coming season.
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LA County Prices Hold Near $900K | Mortgage & Real Estate Updates: VA, FHA, HELOC, DSCR, 1099, P&L, Hard Money, Land, Farm, Fix & Flip, No-Docs, Commercial Loan
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Creative Paths to Homeownership Grow in LA, Orange Counties
Housing affordability declined in Los Angeles and Orange counties due to higher mortgage rates and rising home prices. In Los Angeles County, 17% of households could afford the median-priced home at $879,900, requiring an income of $219,200. Orange County affordability dropped to 15% for a $1.485 million home, needing $370,000 income. Statewide affordability fell to 19%, with a median home price of $916,750 and a required income of $228,400.
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