Will migration fizzle out in 2023? History points to existential shift

The migration trends that drove housing demand during the pandemic are ending. But that doesn’t mean people aren’t moving, according to an Inman analysis of historic data. Continue reading

Brad Pitt offloads LA estate for $39M in off-market deal

Pitt began shopping for a buyer at a $40 million asking price in January, according to reports. The home, he purchased from actress Cassandra Peterson “Elvira,” was never publicly listed. Continue reading

58 cities that had million-dollar homes in 2022 don’t anymore: Study

The number of U.S. cities where the typical home value was $1 million or more has dropped from a high of 522 in July 2022 to 464 as of January 2023. Continue reading

It’s a Bel Air mansion with its own $25,000 fragrance. But why?

Designer César Giraldo believes the decision to conjure a custom branded fragrance for a single homeowner at 1859 Bel Air Road will pay off by bridging marketing, design and emotional appeal. Continue reading

Costly housing spurred California’s 500,000-person pandemic exit

The state’s population exodus was second only to New York, which lost 15,000 more people. The sky-high cost of housing was the residents’ primary reason for departure. Continue reading

Home showings dip in December, but slowdown may be easing

Showings were way down year over year but only dipped a little bit month over month, according to a new report from ShowingTime. They remain up compared to pre-pandemic levels. Continue reading

Pool of agents working in LA shrunk amid slowdown last year: Analysis

The number of active real estate agents in LA decreased by 27 percent year over year, falling from 4,800 agents in the fourth quarter of 2021 to 3,500 agents during the same period in 2022. Continue reading

Hilton & Hyland taps David Kramer to succeed Jeff Hyland as president

Kramer has been with the luxury boutique firm since 2005 and is one of Hilton & Hyland’s top producers. He succeeds the late Jeff Hyland, who died of cancer nearly a year ago. Continue reading

Alexanders partner with top Compass agent for LA expansion

Tal and Oren Alexander are expanding to Los Angeles, and they’ve recruited top agent Tyrone McKillen to lead their office, according to an announcement Thursday on Instagram. Continue reading

The Agency 2022 Red Paper: A softening, but still strong market

“The key takeaway is this,” CEO Mauricio Umansky said of this year’s report. “Housing remains a primary investment for the world’s most affluent citizens and a safe hedge against inflation.” Continue reading