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Luxury Market Heats Up as Affluent Buyers Seek ‘Forever Homes’

Appraisal Buzz

“It’s gratifying to see many of the trends that we identified in January holding true and new ones taking shape halfway through the year,” Michael Althea, VP of Coldwell Banker Luxury , said. Despite challenges in the market, luxury agents can leverage these insights [from the mid-year report] to finish the year strong.” elections. “A

Buyers 417
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Record monthly housing costs keep buyers on the sidelines

Housing Wire

However, some buyers appear to be adapting. Redfin agents report that buyers who can afford to purchase are acting now before costs rise further. Redfin agents report that buyers who can afford to purchase are acting now before costs rise further. New listings rose 12.7%

Buyers 326
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U.S. Homes Selling at Slowest Pace Since 2019

Appraisal Buzz

Prospective buyers have been cautious because theyve seen homes sitting on the market and theyve heard interest rates and prices may drop. When the market isnt competitive, some buyers think they should wait for costs to go down, said Jordan Hammond, a Redfin Premier agent in Raleigh, NC. The market had 5.2 year-over-year.

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Cincinnati’s housing market in a word? Unpredictable

Housing Wire

The turbulence in rates has trickled down to individual markets like Cincinnati, where real estate agents say they dont know what to expect from sale to sale. Its unpredictable, said Teena Jackson, a Redfin agent in Cincinnati. A substantial drop in new listings is a contributing factor.

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How L.A.’s Wildfires Are Impacting the Housing Market 

Appraisal Buzz

Home listings fell in neighborhoods hit by the wildfires, too. Listings slowed a bit in Februarybut not nearly as much as sales. There were 23 new listings in the Palisades, down 12% year-over-year, and 46 new listings in Altadena, down 6%. million in February, down 8% year-over-year. Home sales rose 6.2%

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Home sales evaporate in impacted neighborhoods after LA wildfires

Housing Wire

While sales tanked and prices shifted, new listings slowed. In the Palisades, there were 23 new listings in February 2025, down 12% year over year. Altadena, meanwhile, posted a 6% decline in new listings. New listings rose by 13.6% and the median sales price grew 5.1%

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New Year… New Home?

Appraisal Buzz

In the week ending January 5, Redfins Homebuyer Demand Index, a seasonally adjusted indicator of tours and other purchasing services from Redfin agents, reported a little 2% increase from the previous month and a 2% year-over-year gain. New listings are down 2.5% The post New Year New Home?