JULY NEWSLETTER
Dear Friends, Family, and Colleagues,
California’s housing market closed the first half of the year on a stronger note, with home sales reaching their highest level in six months despite elevated mortgage rates and ongoing affordability challenges. According to California Association of Realtors President Tamara Suminski, buyers are beginning to adapt to today’s interest rate environment, leading to renewed activity across much of the state. Closed escrow sales of existing single-family homes increased for the third consecutive month year over year, marking the strongest annual gain since September 2025.
In June, California home sales reached 279,880, reflecting growing confidence among buyers and helping the market finish the second quarter on firmer footing. While affordability remains a challenge, the recent momentum suggests that well-priced homes continue to attract serious buyers, creating opportunities for both buyers and sellers as we move into the second half of the year.
Sincerely,
Dennis Adelpour and The Adelpour Group
Mortgage Rate News!
The Federal Reserve held the federal funds rate at 3.50%–3.75% on Wednesday, marking the fifth consecutive meeting without a change. The 9–3 vote included three governors calling for a 0.25% increase. What it means for our market: Mortgage rates remain elevated, with 30-year rates around 6.58%, while future Fed moves will depend heavily on incoming inflation and employment data. The good news: slower home-price growth, rising incomes, and easing lock-in effects are gradually improving affordability and helping inventory move - even in a higher-rate environment.
Los Angeles County Rental Market News
With more housing options coming from new multifamily developments and ADU construction, some renters are finally getting a little financial relief. According to a new Realtor.com report, LA County rents fell to a four-year low in the second quarter of 2026, with the median asking rent dropping to $2,603. That’s $91 lower, or a 3.4% decrease, from the same time last year, bringing rents to their lowest level since 2021.
Los Angeles Real Estate Update
Effective After June 30, 2026, The City of Los Angeles has announced updated thresholds for the Real Property Transfer Tax under Measure ULA:
$5,400,000 – $10,899,999: subject to a 4% tax
$10,900,000 and above: subject to a 5.5% tax
These new thresholds will apply to all transactions closing after June 30, 2026. If you’re considering buying or selling in this price range, timing and strategy will be especially important given the significant tax implications.
The Los Angeles high-end market is experiencing a bit of softness, with buyers becoming more selective and price-sensitive. While demand remains strong for well-positioned luxury homes, overpricing or poor presentation can lead to extended days on the market and price reductions.
If you’re considering selling, marketing and negotiations are everything. Right now, serious buyers are still actively looking, but they’re prioritizing properties that are competitively priced and move-in ready. Sellers who act strategically—pricing correctly from the start, staging effectively, and leveraging top-tier marketing—can still achieve strong results despite what's happening in the market.
Thinking about selling? Let’s discuss the best timing and strategy for your home. Call me today for a confidential consultation.
This market is offering a unique opportunity for buyers who are ready to act. With less competition and fewer bidding wars, buyers can often secure properties at more favorable prices than in previous months. However, with the shift in the market, it’s important to approach this process strategically. Be Prepared to Move Quickly! While the market may not be as competitive, desirable properties still move fast.
Don't wait for an overpriced home to undergo a price reduction before making a lower offer—it may be too late. We’re seeing properties sit on the market for weeks with no offers, only to receive multiple bids after a small price reduction. You won’t get a good deal if you don’t ask, and it costs nothing to submit an offer—so don’t be afraid to go for it! Even if prices soften slightly, luxury properties in prime locations tend to appreciate over time. Focus on homes that offer both lifestyle and investment value. If you’re ready to explore the opportunities in today’s market, call me today. Let me help you find your dream home and secure the best possible deal! Even if prices soften slightly, luxury properties in prime locations tend to appreciate over time. Look for homes that offer both lifestyle and investment value. If you’re ready to explore the opportunities available in today’s market, call me today. Let me help you find your dream home and secure the best possible deal!
Check out the recent Redfin article we were featured in:
Build-To-Rent Homes: What You Need to Know About the Future of Single-Family Rentals
Build-to-rent (BTR) homes are ideal for people who want the benefits of community living without the hassle of maintenance, mortgage payments, or HOA dues. In recent years, the movement to create more of these types of homes has been increasing due to higher demand. Because of its rapid growth, many real estate companies and investors are developing BTR properties to capitalize on the craze.
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