Residential Real Estate News
89 Percent of Homes Destroyed by Los Angeles Fires Were Single-Family Residences
According to Redfin, approximately 14% of homes within the perimeters of the Palisades and Eaton fires in the Los Angeles area have been destroyed or damaged. This amounts to 6,354 homes, of which 5,449 (86%) were completely destroyed, and 905 (14%) sustained damage.
On a broader scale, these fires affected 0.17% of all homes across Los Angeles County. While this represents a small fraction of the county's overall housing stock, Redfin agents report significant ripple effects in a region already grappling with a housing shortage.
"Tons of past clients are reaching out on behalf of friends, asking if I know of any available rentals," said Gregory Eubanks, a Redfin Premier agent. "There's competition for nearly every rental, and it's not just about price. Many people are signing long-term leases to secure housing. For instance, a rental listed at $16,000 per month was bid up to $30,000, with the winning tenants committing to a two-year lease.
"On the buying and selling side, activity has slowed. Two buyers canceled their deals because they felt uneasy making a large purchase during such a catastrophe. Additionally, three clients decided to withdraw their listings, opting instead to rent their homes to those impacted by the fires."
Fire-Specific Impacts
Of the 6,354 homes destroyed or damaged:
- 56% were affected by the Eaton fire.
- 44% were affected by the Palisades fire.
Single-family homes comprised the majority of the affected properties, accounting for 89% (5,636 homes). Multi-family properties made up 11% (707 units), while less than 1% (11 units) were mobile homes.
Housing Shortages and Market Strain
According to a separate Redfin analysis, Los Angeles County issues roughly 6,000 single-family permits annually. This number is lower than the total homes destroyed by the Palisades and Eaton fires, highlighting the strain on housing availability.
"The fires are impacting many deals," said Alin Glogovicean, another Redfin Premier agent. "I have a $1.7 million home in Altadena that was set to close next week, but the buyers pulled out. Now, the sellers are in a dispute over the deposit. It's a real mess.
"For families seeking rentals, my advice is to act quickly. Call a real estate agent and ask for help to secure housing as soon as possible."
Redfin's analysis assessed the number of homes destroyed or damaged using Cal Fire's definitions of the incident perimeters for the Palisades and Eaton fires. Commercial structures were not included in the analysis.
