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<\/a><\/p>\nPhoto by Cedric Letsch<\/a> on Unsplash<\/a><\/em><\/p>\n For-sale homes in the Los Angeles-Long Beach-Anaheim metropolitan area are going from \u201cactive\u201d to \u201cpending\u201d in just 19 days on average, according to Zillow\u2019s <\/span>weekly market report and June 2020 data summary<\/span><\/a>. That statistic is as of July 11th, but compared to the same period last year, homes are transitioning to pending status nine days sooner.<\/span><\/p>\n In January of this year, before COVID-19 had reached California, homes in and around Los Angeles typically spent 50 days on the market. While winter is a notoriously slow season for real estate, the disparity between the two months is especially pronounced.<\/p>\n Record-low 30-year fixed mortgage rates, which fell below three percent last week, coupled with sparse inventory levels are causing homes to sell within a matter of days. Buyers who were planning to purchase a home this spring were delayed by Mayor Eric Garcetti\u2019s ban on in-person home showings in April, leading to pent-up demand for a limited number of properties.<\/p>\n