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Home Sales Rose in February

According to the Wall Street Journal, home sales increased by 1.7% in February. (WSJ.com)

A drop in mortgage rates, below 6%, caused home sales to rise 1.7% from January's sales.. This is the first time rates have dropped below 6% since 2022. (WSJ.com)

Lawrence Yun, National Association of Realtor's Chief Economist, states, "The increase was driven by continuing improvement in affordability. During the spring home-buying season we do have more buyers kicking the tires, visiting open houses. (WSJ.com)

However, this gain in sales might be short-lived as rates have climbed above 6% since the start of the Iran War.

Keeping your current is written by Michael Bloom, Hidden Hills resident since 1977 and your neighborhood Realtor.

Feel free to contact me with real estate related questions or concerns or for a free market analysis of your home.

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With decades of real estate expertise and deep roots in Hidden Hills and Woodland Hills, I bring unmatched local knowledge and dedication to every client relationship. My approach is built on creativity, perseverance, and a commitment to guiding you through one of life’s most important decisions. Beyond real estate, I stay actively involved in the community, giving me a unique perspective and stronger connections to serve your needs.

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