Congress has cut federal funding for public media — a $3.4 million loss for LAist. We count on readers like you to protect our nonprofit newsroom. Become a monthly member and sustain local journalism.
Far Fewer Homes Are For Sale In LA, But Virtual Tours Are Up 400%
A for sale sign last March in Monterey Park. (Frederic J. Brown / Getty Images)
()
One part of the economy feeling the effects of the pandemic is real estate. According to new data from the listing service Zillow, the market has significantly slowed during the fallout from coronavirus.
Zillow economist Jeff Tucker says new listings in Los Angeles are just a quarter of what they were a year ago.
Sellers have definitely gotten the memo that hey, buyers are kind of pulling back right now. And now sellers are pulling back. Everyone's kind of taking a wait and see approach to see you know, just how much economic damage is going to be caused, how long is it going to last.
Tucker says property prices have stayed the same so far, and with L.A.'s highly competitive housing market, it would take a big dent such as mass foreclosures to significantly lower the market.
Support for LAist comes from
MORE ON SOCAL HOUSING
- LAist Reader Pledges To Pay Rent Of Mother Facing Eviction
- Read The Letters SoCal Landlords Are Sending As Rent Comes Due In This Pandemic
- Landlord Demands ‘100%’ Of Stimulus Money For Back Rent; Later Says It’s Misunderstanding
Our news is free on LAist. To make sure you get our coverage: Sign up for our daily coronavirus newsletter. To support our non-profit public service journalism: Donate Now.
As Editor-in-Chief of our newsroom, I’m extremely proud of the work our top-notch journalists are doing here at LAist. We’re doing more hard-hitting watchdog journalism than ever before — powerful reporting on the economy, elections, climate and the homelessness crisis that is making a difference in your lives. At the same time, it’s never been more difficult to maintain a paywall-free, independent news source that informs, inspires, and engages everyone.
Simply put, we cannot do this essential work without your help. Federal funding for public media has been clawed back by Congress and that means LAist has lost $3.4 million in federal funding over the next two years. So we’re asking for your help. LAist has been there for you and we’re asking you to be here for us.
We rely on donations from readers like you to stay independent, which keeps our nonprofit newsroom strong and accountable to you.
No matter where you stand on the political spectrum, press freedom is at the core of keeping our nation free and fair. And as the landscape of free press changes, LAist will remain a voice you know and trust, but the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news from our community.
Please take action today to support your trusted source for local news with a donation that makes sense for your budget.
Thank you for your generous support and believing in independent news.
Chip in now to fund your local journalism
(
LAist
)
Trending on LAist
-
Kimmel returned less than a week after ABC suspended his show over comments he made about the assassination of right wing activist Charlie Kirk. -
Southern California might see some light rain tonight into Wednesday morning. After that, cooler weather is on the way, but expect the humidity to remain. -
A gate tax at Disney? It's a possibility. -
UCLA and University of California leaders are fighting Trump’s demands for a $1.2 billion settlement over a litany of accusations, including that the campus permits antisemitism. -
Wasteland Weekend is all about souped-up rust buckets, spikey costumes and an ‘ideal apocalypse.’ -
The Shadow the Scientists initiative at UC Santa Cruz strives to demystify astronomical research.
Best of LAist