<body><div><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=3DjisH_0wBd4P8L00" alt="https://img.particlenews.com/image.php?url=3DjisH_0wBd4P8L00" width="1158" height="608" >LOS ANGELES - Despite the lowest interest rates since spring, home sales in the Los Angeles metro region and the state as a whole stalled in September and hit the lowest level in nine months, the California Association of Realtors announced Thursday.September's sales pace decreased 3.4% from the 262,050 homes sold in August and was up 5.1% from a year ago, when a revised 240,840 homes were sold on an annualized basis. The sales pace has remained below the 300,000-threshold for the past two years, while year-to-date home sales edged up 0.9% from the first nine months of 2023, according to statewide figures.California's median price of a single-family home slipped in September by 2.3% from $888,740 in August to $868,150 in September, it continued to grow from a year ago but at the slowest rate since July 2023, according to CAR.September's figure was 2.9% higher than the revised $843,500 recorded in September 2023. The year-over-year gain was the 15th straight month of annual price increases.Home prices could soften further in the coming months as the market enters the traditional off-season but should continue to post year-over-year growth for the remainder of the year, the association said."The inventory of homes for sale has steadily improved in recent months as the market moves into the typical off-peak home-buying season," CAR President Melanie Barker said in a statement. "With home prices likely to moderate further in the coming months, the fourth quarter could offer an opportunity for potential buyers who have been waiting to re-enter the market, especially as interest rates gradually return to historical averages."The median price in the Los Angeles metro area was lower in September at $810,000 compared to the previous month's $827,000, a 3.8% increase from last year at this time. The median price in Los Angeles County increased by 2.2%, from $919,890 in August to $960,370 last month.Orange County saw its median home price decrease by 0.2% from August to $1.39 million in September, 6.7% higher than the same month last year.In Southern California, the lowest median price in September was Imperial County's $397,500, showing a 3.2% decrease from the previous month's figure.The median number of days it took to sell a California single-family home was 24 days in September, six days more than September of last year.</div></body>

Mountain View, CA

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Home Sales Drop Across LA Metro Region, Statewide

LOS ANGELES - Despite the lowest interest rates since spring, home sales in the Los Angeles metro region and the state as a whole stalled in September and hit the lowest level in nine months, the California Association of Realtors announced Thursday. September's sales pace decreased 3.4% from the 262,050...