Los Angeles Market Snapshot
The number of homes that sold in Los Angeles during 2018 was 9% below 2017. This translates to 7,500 fewer homes that sold across the region this year.
 
 
As sales volume has slowed, the inventory of homes available for sale has grown. At the end of 2018, 16,700 homes were for sale across Los Angeles County, up nearly 40% from 12,000 a year earlier, when inventory was near an historic low. While higher than 2017, today’s inventory is still low in comparison with historic standards.
 
 
 
 
Home prices in the region are decreasing from month-to-month but were still averaging 4% higher than a year earlier at the end of 2018. The average price-to-list ratio is currently 97% in Los Angeles, just below a year earlier.
 

Interest rates have decreased in recent months, averaging 4.29% for a 30-year fixed rate mortgage (FRM) in March 2019. This average rate is about level with this time last year, a positive change for homebuyers, as FRM rates peaked in late-2018 and have since fallen back.

Thinking about buying or selling? Contact me for more specifics on buying or selling in your neighborhood!


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