Current Housing Market Trends
August 31, 2016 11:27 am
As many of you may have noticed 2015 has been a Great year in Los Angeles Real Estate! Prices for homes have steadily gone up as we are currently experiencing a seller’s market. The comeback started in 2012 and prices have since risen 27%, says KPCC. In fact, in certain situations prices have recently surpassed those prior to the recession! With all this going on it may seem that we are heading towards a Real Estate Bubble. However, according to the UCLA Anderson forecast the Market actually appears to be about halfway through a solid recovery. Oh, whew! The forecast attributes this steady upward trend to the rising demand on homes with a continuing limited supply.
That being said, with mounting uncertainty in the global economy, even in the best of situations Real Estate can be impossible to predict. Due to the lack of inventory coupled with the fact that interest rates are at an all time low, Buyer’s are currently willing to pay above listed value for a home. Additionally, market trends dictated that housing inventory tends to increase at the beginning of each year, thus causing prices to subsequently increase ags well. So why not take advantage of the great Market opportunities presently at hand? Let us help you make the Real Estate decision that is right for you!
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