The Karlin Law Firm LLP

Providing quality legal services to statewide and national clients in ADA defense, Personal Injury, business and real estate for more than 35 years

866-500-8932
Email Us
Practice Areas

Home sales sluggish again in January

People bought fewer new single-family homes in January. According to the Commerce Department, sales in this category dropped 7.8 percent during that month to a seasonally adjusted 593,000 units. That was the lowest level since August 2017, and it was the second straight month in which home sales declined. Some believe that this may be a sign of a slowing housing market in California and other states.

The pace of home sales varied in different regions of the country. For instance, the Northeast saw new home sales fall 33.3 percent. Home sales in the South dropped 14.2 percent. One explanation for the decline in sales is a lack of available homes on the market. This has caused prices to rise, which has limited the number of affordable properties available for first-time buyers.

However, the latest figures indicate that there was a 6.1 month supply of available homes. This tends to indicate that the market has found an appropriate balance between buyers and sellers. There were 301,000 new homes available in January, which was the highest level since March 2009. Rising mortgage rates and meager wage growth may also be contributing to a decline in sales. As of Feb. 22, the average rate for a 30-year fixed mortgage was 4.4 percent.

There may be many variables to consider when buying residential property. Buyers may need to determine their price range, consider the overall housing market and learn more about the process of getting financing. They may also need to understand how to put an offer on a house and do so in a timely manner. An attorney may often be of assistance in this regard.

No Comments

Leave a comment
Comment Information

Contact Us Today

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

L. Scott Karlin

L. Scott Karlin

Attorney Profile
David E. Karlin

David E. Karlin

David E. Karlin is a California attorney with a primary focus on business and real estate, including law and legal issues...

Attorney Profile
Michael J. Karlin

Michael J. Karlin

Michael J. Karlin is a Southern California based attorney whose practice primarily focuses on Entertainment Law. Michael began...

Attorney Profile

Recent Articles

ADA Fraud Reported

A recent article on the news concerns a man in Riverside County who allegedly has attempted to obtain money from property owners and businesses based on alleged violations of the Americans with Disablities Act (ADA). Read More

Tustin Office
13522 Newport Avenue, Suite 201
Tustin, CA 92780

Phone: 714-881-0054
Tustin Law Office Map

Newport Beach Office
2901 West Coast Highway, Suite 200
Newport Beach, CA 92663

Phone: 949-427-9328
Newport Beach Law Office Map

Carlsbad Office
2173 Salk Avenue
Suite 250
Carlsbad, CA 92008

Phone: 760-407-2409
Map & Directions

Riverside Office
6809 Indiana Avenue
Suite 100
Riverside, CA 92506

Phone: 951-643-8769
Map & Directions

Los Angeles Office
1100 S. Hope Street
Suite 103
Los Angeles, CA 90015

Phone: 213-519-5633
Map & Directions

Fresno Office
1444 Fulton Street
Fresno, CA 93721

Phone: 951-373-4384
Map & Directions