1833 ET - Single-family dwellings accounted for 89% of homes destroyed or damaged by the Palisades and Eaton Fires in Los Angeles, according to a new analysis from Redfin. Out of a total of 6,354 homes, 5,449 were destroyed, and 905 were damaged, the real-estate services company said. Although the losses account for only 0.17% of all homes in Los Angeles County, Redfin agents are reporting the is causing a ripple effect of people searching for housing in the region, which is already struggling with a housing shortage, according to the company. Agents have been reporting rental bidding wars, canceled home purchases, and clients canceling listings, Redfin said. (stephen.nakrosis@wsj.com)
(END) Dow Jones Newswires
January 17, 2025 18:33 ET (23:33 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.