Rising rents, shrinking supply—resources to help rebuild.
The recent wildfires in Los Angeles have left a heartbreaking impact—24 lives lost, thousands displaced, and over 12,000 structures destroyed. For homeowners, renters, and REALTORS®, the effects are immediate and overwhelming.
With so many homes lost, L.A.’s already tight housing supply is shrinking even more, making it harder for buyers to find properties. In nearby neighborhoods, rent prices are rising as displaced residents search for temporary housing. On top of that, homeowners are facing rising insurance costs, with California’s ongoing insurance crisis only adding to the uncertainty.
The road to recovery will take time, but there’s hope. The housing market is expected to regain strength later this year as rebuilding begins, bringing new opportunities for buyers and sellers. In the meantime, if you or someone you know has been affected, there are resources available:
- C.A.R. Disaster Relief Fund – Financial assistance for REALTORS® impacted by wildfires: car.org/difference/realtorscare
- Wildfire & Insurance Resources – Guidance for homeowners on protection and coverage: smartzonecar.org/disaster-relief
- Legal Help for REALTORS® – Access wildfire-related legal insights: car.org/riskmanagement/live
Stay informed, stay strong, and let’s rebuild together.
Source: California Association of REALTORS® (C.A.R.).