Drop in U.S. Fertility Rate Has Housing Consequences

Americans are having fewer children, and the trend is apparent among home buyers.

The fertility rate in the U.S. fell by 1% in 2019, reaching an all-time low compared to the last 100 years.

Among home buyers, the share who have children under the age of 18 has fallen from 58% in 1985 to 33% in 2020.

This trend has significant implications for home buyers.

What is important to a buyer with children will be different than what a buyer needs without children in the home.

For example, buyers with children may put higher importance on location and schools as well as home size.

Buyers with children typically purchase a four-bedroom home with 2,200 square feet; those without children usually purchase a three-bedroom home with 1,800 square feet, the research shows.

The question is where will this trend lead?

Will fertility rates continue to drop?

Will there be a pandemic baby boom?

Early indicators suggest the trend of a baby bust will continue.

Source: Jessica Lautz, vice president of demographics and behavioral insights at the National Association of REALTORS®

See what the most expensive home to sell this week in Mission Hills looks like

Did the buyer get a good deal?

This is the most expensive home sold in Mission Hills this week.

Asking price: $849,900

Selling price: $835,000

This single-family home has 3 bed/2 baths, 2,590 sq. ft. of living space, and is on a 7,076 sq. ft. lot.

The home features Viking appliances in the kitchen, double pane windows, and copper plumbing.

Check out this one of a kind "Hot Home" in Hancock Park!

“Hot Home” alert in Hancock Park!

The asking price is $12,375,000.

This French Neoclassical home has 4 bed/6 baths, 8,163 sq. ft. of living space, and is on a 20,143 sq. ft. lot.

The property features an awe-inspiring foyer with 30 foot high ceilings, herringbone wood floors throughout, a 7 car garage, amazing views, and an octagonal-shaped pool.

Text me if you want a tour at 818-445-7953.

What is going on with this home in Studio City? It has been on the market for a LONG time!

This is the longest active listing in Studio City.

It's been on the market for 255 days with no price reductions.

Asking price: $3,499,000

This home has 5 bed/4 baths, 3,397 sq. ft. of living space, and is on an 18,047 sq. ft. lot.

The very private home features gorgeous views of the canyons, a cook’s kitchen, a master suite with an upgraded bathroom, and 2 bedrooms and a bathroom on the third floor.

I bet they are open to negotiating.

Text me if you want a tour at 818-445-7953.

Lakers LeBron James is unloading his spare Brentwood Park Mansion!

LeBron James is selling his Brentwood Park Mansion for $20,500,000.

This Gated Traditional Estate has 6 bed/8 baths, 9,440 sq. ft. of living space, and is on a 24,772 sq. ft. lot.

The home features an indoor/outdoor flow, high ceilings, large master suite, media room, paneled library, gym, elevator, mudroom, and 3 car garage.

There is also a long lap pool and spa in the resort-like backyard.

Text me if you want a tour at 818-445-7953.

Burbank had 42 property sales for the month of February

There were 43 property sales in Burbank for February 2020.

Can you guess how much this Pasadena home sold for? Hint: 823 Sq. Ft.

This is the cheapest home to sell this week in Pasadena.

Asking price: $630,000

Selling price: $690,000

This remodeled starter home has 2 bed/1 baths, 823 sq. ft. of living space and a 2,767 sq. ft. lot.

The home features stainless steel appliances in the kitchen, a newer roof, and it is close to the Rose Bowl, Old Town Pasadena, and the Paseo.

Did the buyer get a good deal?

Check out this awesome "Hot Home" in Los Angeles before it gets snatched up

Here is your latest “Hot Home” in the Mount Washington area.

The asking price is $1,700,000.

This post & beam home has 3 bed/3.5 baths, 3,035 sq. ft. of living space, and is on a 7,245 sq. ft. lot.

The home features outdoor decks that look out to either the DTLA skyline or the San Gabriel mountains.

The master suite has a huge walk-in closet, spa tub, double sinks, separate stall shower, and the lower level provides enough space for a home office, gym, and media room!

Text me if you want a tour at 818-445-7953.

You have got to see Lakers star Dennis Schröder's new multimillion dollar mansion!

Lakers Star Dennis Schröder Buys Tarzana Mansion for $4.3M.

This gated contemporary estate has 7 bed/10baths, 8,428 sq. ft. of living space, and is on a 15,308 sq. ft. lot.

The home features Fleetwood patio doors for indoor/outdoor experience, surround sound, Control4 smart home, home theater, and a 2 level guest house.

The secluded backyard has a zero-edge pool & spa, an outdoor kitchen, and a concrete basketball court - of course!

Go Lakers!

TEXT ME NOW for a tour of my newest off-market property in Los Angeles!

Off Market Property in Los Angeles!

This home has 5 bed/4.5 baths, 4,250 sq. ft. of living space, and is on a 9,414 sq. ft. lot.

The home features an open floor plan, chef’s kitchen, game room w/ bar, incredible city views, and a large pool in the backyard.

Want to see it?

Text me at 818-445-7953.

What % of home sales were foreclosures?

Foreclosures and short sales represented less than 1% of sales in January, equal to December's percentage, but down from 2% in January 2020.

"Hot Home" Alert in Burbank! Text me for a tour before it sells!

“Hot Home” alert in Burbank.

The asking price is $1,700,000.

This 2 story home has 3 bed/2 baths, 2,857 sq. ft. of living space and a 6,280 sq. ft. lot.

The home features a gourmet kitchen that opens up to the family room.

There are also bi-fold doors that create an indoor/outdoor flow.

The backyard has a covered patio, built-in BBQ, pool & spa.

Text me if you want a tour at 818-445-7953.

AT LAST! I have another off market property available in Burbank... don't miss out!

Another Burbank off-market property, not available to the public!

This single-family home has 4 bed/2 baths, 1,805 sq. ft. of living space, and is on a 7,010 sq. ft. lot.

The home features a large front yard, spacious living room with gas fireplace, upgraded kitchen w/ island, covered patio in the backyard, and a bonus structure in the back which could possibly be used as an ADU.

Text me if you want a tour at 818-445-7953.

See this former home of Britney Spears that FINALLY sold in LA!

Britney Spears’s former home finally sells!

After being on the market for 200 days, coincidently 3 days after the “Framing Britney Spears” documentary, the home sold for $6.1M.

This Mediterranean Villa home has 6 bed/6.5 baths, 7,453 sq. ft. of living space, and a 16,082 sq. ft. lot.

The home features a double-height foyer w/ crystal chandelier, a Chefs Kitchen w/ breakfast nook, home theater, resort-style backyard w/ plunge pool, spa, and outdoor kitchen/ BBQ.

Would you want to live in Britney Spears's old home?

New construction home buying rush to continue in 2021

More house hunters—particularly move-up buyers—are being drawn to new-home construction in the COVID-19 pandemic, so much so that it’s driving a surge in construction across the country.

Single-family starts ended 2020 with the best year in home building since the Great Recession, and 11% higher than 2019.

Ultra-low mortgage rates and a shift in housing preferences—including a growing demand for larger spaces, home offices, and outdoor amenities—are driving the increase.

New-home construction will likely grow by 5% during 2021 and hit above 1 million housing starts for the first time in years.

Builders, however, are concerned about several challenges that could affect sales over the next few months, particularly related to rising construction costs.

Lumber prices, up 169% since mid-April, are significantly adding to the costs of building a new home.

Buyers are seeing the increases in home prices too: A median of $16,000 has been added to the cost of a newly built home from the increase in lumber prices alone.

Source: National Association of Home Builders’ data.