Cute dog with party glasses at home. St. Patrick s Day celebration

The housing market continues to show promising signs of a better spring homebuying season that we saw last year. Both closed and pending sales appear to have risen again in February and all signs point to a market that is heating up as days on market falls, the percentage of sellers discounting to attract buyers falls, and the percentage of homes closing above list price rises.


Market data still looks encouraging: Pending sales in February rose for the 3rd straight month in February, showing that even the modest decline in rates we have seen this year are helping to get buyers off of the sidelines. The number of homes entering escrow last month increased by 8.2% compared with February 2023. In addition, California has finally begun to see a slight increase in new inventory hitting the market. In fact, new listings added to MLSs across the state were up by double-digits in January and February—the first noticeable increase since rates first started to rise. However, pending and sales also both look to be up by or near double-digits meaning that overall active inventory levels remain almost unchanged. As demand seems to pick up much more quickly than new supply, small changes in rates have already caused the market to become more competitive. 


Home purchase sentiment climbs for the third straight month: Home Purchase Sentiment released by Fannie Mae rose again in February 2024, with the index inching up 2.1 points to 72.8 in the latest monthly read. More respondents to the sentiment survey felt better last month about home buying and home selling, with those who said it was a good time to buy rising 2 percentage points to 19% and those who said it was a good time to sell jumping 5 percentage points to 65%. Despite a small monthly dip of one percentage point, over a third of respondents (35%) continued to believe that mortgages will decline in the next 12 months, a sharp increase from the share of 15% recorded 12 months ago. Moreover, the share of consumers who said it would be easy to get a home mortgage today improved from 4 percentage points to 46% in February. Consumers were also slightly more optimistic last month about the economy, as an increasing number of them (31%) believed the economy was on the right track, a moderate improvement from January (25%).


Homeowner equity rises again in the fourth quarter: Homeowner equity increased solidly on an annual basis for the second consecutive quarter in Q4 2023, according to the latest CoreLogic Homeowner Equity Insights report. Homeowners with mortgages in the U.S. have seen an aggregated increase of $1.3 trillion in equity since Q4 2022, a jump of 8.6% year-over-year. Mortgaged residential properties with negative equity declined 1.1% from Q3 2023 and 15% from Q4 2023. Roughly 1.8%, or one million, of all mortgaged properties were underwater, which was significantly below the peak of 26% observed in Q4 2009. On average, U.S. homeowners with mortgages gained $24,000 in equity last quarter compared to a year ago. California had the fourth highest gain of all states, with an average homeowner equity increase of $49,000 year-over-year in Q4 2023. The Golden State had a share of homes with negative equity at 0.7% in Q4 2023 and was the state with the smallest share among all states reported by CoreLogic.


If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.


Hope you have a great St. Patrick's Day!


Road in California


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700 E Ocean Blvd #607

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1 Bed | 1.5 Bath | 880 SF | $625,000


Amazing ocean views from every room in this beautifully remodeled open floor plan condo at the International Tower! This beautifully updated modern high-rise condo features hardwood flooring, fresh interior paint, scraped ceilings, and is light and bright with expansive ocean views. 

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6544 Cerritos Ave.Long Beach 90805

2 Bed | 1 Bath | 1,198 SF | $735,000


Welcome to 6544 Cerritos Ave, a charming slice of Spanish-inspired architecture nestled in the heart of North Long Beach. This classic 2-bedroom, 1-bathroom home boasts timeless elegance coupled with modern upgrades, offering comfort and style.

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Welcome home to perfection in this one-of-a-kind home in the highly sought after community of Rossmoor. Breathtaking elegance is evident upon arrival & deepens with the discovery of each exquisitely unique space, feature & divine amenity.  

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Welcome to your ideal starter home located in the heart of Bellflower! With its proximity to local amenities and welcoming neighborhood, this home is a must-see on your home-buying journey.

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An incredible opportunity awaits with this charming 3-bed, 2-bath single family home. Set on a spacious 7,004 sq ft lot, that beckons with endless possibilities for entertaining or even possibly adding an ADU. 

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4 Bed | 2 Bath | 1,194 SF | $625,000


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3 Bed | 2 Bath | 2,142 SF | $1,350,000


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3 Bed | 2 Bath | 1,695 SF | $875,000


Embrace the charm of this lovingly maintained single-story home, cherished by the same family for over 50 years. Nestled on an expansive 10,948 sq ft lot, this property beckons with endless possibilities – from adding an ADU, a pool, more living space, or just simply reveling in the serene, park-like ambiance.

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4 Bed | 5 Bath | 3,237 SF | $2,605,000


Tesoro Builders has created another extraordinary opportunity to own a brand new, custom designed single-family home in the heart of highly coveted downtown Huntington Beach. The epitome luxury living offers an exceptional beach lifestyle.

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Tim Majka

(562) 900-9430


DRE #01399855