1231 ET - Real-estate investors are buying roughly 40% of the land selling in areas impacted by the January 2025 California wildfires, according to Redfin. In the 90272 zip code--Pacific Palisade--investors purchased 48 of the 119 lots that sold in 3Q. That compares with zero lot purchases a year earlier--from both investors and other buyers. In the 91001 zip code--Altadena--investors bought 27 of the 61 lots that sold. That also compares with zero lot purchases a year earlier from investors and other buyers. A lot of the homes that burned down in Altadena were built in the 1940s or 1950s. Redfin says many investors are making lowball offers for the lots, with plans to flip the land into new homes. Some owners are rejecting these offers, but others are signing because they need to sell. (chris.wack@wsj.com)

(END) Dow Jones Newswires

December 30, 2025 12:31 ET (17:31 GMT)

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