Pending Home Sales Increased Nationwide by 3.4%, Month Over Month

Pending Home Sales Increased Nationwide by 3.4%, Month Over Month


The National Association of Realtors® has released March sales data, and pending home sales increased nationwide by 3.4%, month over month. In the West, pending home sales rose 6.8% from February and 3.6% from the same time last year.

NAR expects existing-home sales to rise by 9% by the end of 2024 and another 13.2% in 2025. While new builds are projected to increase by only 1.2% this year, the nation's largest trade association predicts housing starts will jump 4.9% in 2025. "Home sales have lingered at 30-year lows, and since 70 million more Americans live in the country now compared to three decades ago, it's inevitable that sales will rise in coming years," said NAR's top economist.

As always, I'd love to discuss our local market if you have any questions or comments.

While most economists now believe multiple rate drops are not coming in 2024, almost all economists believe the days of artificially super-low rates will not return for many years, if ever. The 30-year fixed mortgage rate hovered around 5% in 2009 and dipped to around 3% by 2020...but it was 4.54% in 2018. At that time, many were decrying that rate as 'too high!'. (WSJ)
Here’s the average credit score by generation as of March 2024:
Gen Z (18 to 27): 665
Millennials (28 to 43): 687
Gen X (44 to 59): 710
Baby boomers (60 to 78): 746
Silent generation (79 to 96): 750. (CNBC)

You can TEXT 911 in an emergency when speaking out loud may not be an option.

Money launderers surreptitiously introduce more than $2 trillion in proceeds from illegal enterprises to global financial systems every year, according to estimates. (WSJ)


  • One million plastic bottles are purchased every minute worldwide, while up to Five trillion plastic bags are used a year.
  • An estimated 9.7 Million cigarette butts are littered in the US every year, 4 billion of these in waterways. They comprise nearly 20% of all litter.
  • By 2050 there will be more plastic in the oceans than there are fish (by weight) (

Wyoming's overall population grew by just 2.5% between 2010 and 2021, but its population over 65 soared to over 47% in the same time frame. Many states are dealing with a growing aging population. The good news? Most wish to age at home, not in nursing homes.....and the cost is very different: $1,871 for monthly at-home care versus nursing home care, which has an average cost of $4,931. Both costs are far higher in big cities. More reason to expect homeowners to stay in their homes much longer as home-based medical care and monitoring advance.....and for those homes to meet the needs of older inhabitants. (USA TODAY)
A wealthy client told me decades ago: "Never bet against the US!" While we are bombarded daily with negatives about our economy, we should be reminded that while our debt levels are unsustainable, and inflation remains sticky, we should also note:

  • U.S. GDP grew 2.5% in 2023, significantly outpacing other developed economies...
  • Inflation in Canada is 3.9% and 5.9% in Germany. It's 3.5% in the US.
  • The US labor market remains resilient.
  • US equity markets are close to all-time high's.
  • The dollar remains strong. (CNBC)

Balboa Island's $33M Utility Underground Project
In case you haven't heard, Central Balboa Island is teeming with construction activity as a project to underground utilities continues to move overhead power lines out of sight. A 50-block area between Agate Avenue and Grand Canal is Phase 1 of the project, which got underway on Feb. 12. It encompasses the 100 block of Marine Avenue between Park Avenue and the South Bayfront and Grand Canal alleys. The targeted completion date for the work, which carries a $33-million price tag, is June 17, 2025.
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608 Dahlia
608 Dahlia is one of my favorites, and with "spring in the air," their delicious menu is a delight! Offering a delicious farm-to-table menu highlighting locally farmed ingredients topped with fresh herbs and edible flowers, I guarantee you will feel refreshed and revitalized. Stroll through the amazing Gardens and treat yourself to an overall amazing experience. Located in Sherman Library and Gardens, reservations are recommended.
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NB Surf & Turf Polo Classic

Get ready for a sun-soaked, stylish day at the "Newport Beach Surf & Turf Polo Classic" on Saturday, May 4th at the picturesque Peninsula Park in Newport Beach. This premier event, supporting the Newport Beach Foundation promises an unforgettable experience, combining the excitement of polo with the laid-back vibes of the beach.

From 12 to 4pm, witness two thrilling polo matches and watch the Kentucky Derby live on a large screen. Tickets are still available...but hurry!

Check it out...

8 Home Improvement Projects
That Will Pay Off in 2024

With a new year comes new home trends, but more importantly, new ways homeowners can revamp their space while increasing their home's value. Home improvement in 2024 has a specific focus on creating personalized homes and making certain swaps, like upgrading to smart appliances, to enhance everyday living.

Whether you're looking to achieve a brand new home design or increase your home's value before listing, here are eight home improvement tasks that help to accomplish both.


220 Via Koron
Lido Isle

3 Bed | 3 Bath | 2352 SF | $5,295,000 List


Meticulously transformed and spanning approximately 2352+ square feet, this newly crafted home offers the perfect blend of modern luxury and island-inspired design.

Featuring high-end finishes and including sophisticated furnishings and beautiful coastal-inspired artwork, 220 Via Koron checks all the boxes.


108 Via Undine
Lido Isle

4 Bed | 4.5 Bath | 3508 Sqft | $5,985,000 List


Open Saturday & Sunday: 1p - 4p

A rare find on Lido Isle…108 Via Undine highlights a spacious backyard and captures graceful outdoor living. 

Recently remodeled and offering an open floor plan, this beautiful home epitomizes coastal living and is an amazing opportunity.


I have several off-market opportunities, contact me for details.


Work With Leslie

Leslie Thompson's detailed approach and dedication are unsurpassed. Clients depend on her personalized service and recognize that her innate skills consistently deliver exceptional results. Whether you're looking to buy or sell, Leslie looks forward to helping you reach your real estate goals with utmost care.

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