Please find this week’s market insights.
These reports use real-time market data to provide actionable insight into what is happening in the market right now and how conditions are evolving week by week.
As a buyer or seller, here are a few key indicators to watch:
Market Segments: Track market dynamics within your price range.
Market Action Index: Identify whether the market is heating up or cooling down.
Days on Market: Understand how quickly you may need to act.
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Backers of the proposed California billionaire tax believe they have gathered enough signatures to place the initiative on the November ballot. The proposal calls for a one-time 5% wealth tax. While the focus is on ultra-high-net-worth individuals, luxury real estate owners, developers, and major investors are paying close attention because high-value real estate portfolios may be part of taxable wealth calculations.
Opponents argue that the measure could encourage wealthy residents and business owners to leave California, reduce investment, create legal challenges, and be difficult to enforce due to the complexity of valuing private assets. This is one reason the proposal is drawing attention in markets such as Los Angeles, Santa Monica, Malibu, and Beverly Hills.
I wanted to share a quick update on the April 2026 National Housing Market report from Compass (with market data through March of 2026), reflecting market data through March. The market continues to show steady activity as we move deeper into the spring season.
Median house prices increased approximately 1.3% year over year, while condo and co-op prices rose 2.3%. Existing home sales jumped 26% from February and were up about 4% compared to March 2025, reflecting the typical seasonal acceleration we often see in spring.
Inventory also increased, with the supply of listings up 3% from February and 2.3% year over year. Homes are taking slightly longer to sell, with the median time on market now at 41 days compared to 36 days last year. About 18% of homes sold above asking price, down from 21%, suggesting buyers are becoming more selective and strategic.
Additional market highlights:
• 27% of transactions were all-cash purchases
• 5% of buyers purchased after only viewing the property online
• 6% of purchases were for vacation use
• 13% of contracts experienced escrow delays
• 5% of contracts were terminated over the last three months
On the economic side, mortgage rates have moved higher again, with the average 30-year fixed rate reaching 6.41% as of April 13. Inflation also rose to 3.3%, driven in part by higher oil and gas prices and broader global uncertainty.
While consumer confidence has weakened, the housing market has remained more resilient than many expected. Historically, listing and sales activity continue to strengthen through April and May, making this one of the most important windows for both buyers and sellers.
If you are considering buying, selling, or simply want to understand how these national trends are affecting Santa Monica, Pacific Palisades, Malibu, or your specific neighborhood, I would be happy to provide a personalized market review.
Please feel free to reach out anytime.
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Have a fantastic day!
Best Regards,
Alena Lehrer
Luxury Real Estate Specialist
Compass, Beverly Hills
DRE 02120134
310.437.3700
[email protected]
www.AlenaLehrer.com
