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Housing tracker: Southland home price growth shows signs of slowing [Los Angeles Times (CA)]

Federal Home Loan Mortgage Corporation (FMCC) 
NASDAQ:AMEX Investor Relations: freddiemac.com/investors
The average home price in the six-county region was $864,586 last month, down 0.4% from September and 1% below the record reached in July, according to data from Zillow. Though prices have now fallen for three consecutive months, that doesn't mean they will keep doing so. It's not uncommon for home prices to fluctuate month to month, or dip starting in the late summer and fall due to seasonal patterns. Home prices are still nearly 4.5% higher than a year earlier in October 2023. That said, the rate of home price growth is slowing, something many economists expected to happen given the mismatch between incomes and prices. Home price growth peaked at nearly 9.5% in April and has declined every month since. Helping to moderate price growth is a housing shortage that, while not going away, is getting slightly less severe. In recent months, the number of homes listed for sale has steadily grown. Real estate agents say homeowners who once balked at giving up their ultralow mortga Show less Read more
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