San Fernando Valley active inventory is higher than at any point in the past two years, and the sales volume is below the last two years. Even though property values are still appreciating, it is at a much lower level than we’ve seen over the past 3 years. The supply and demand ratio conveys that the market has changed from a seller’s market to one that is balanced. An attractive well priced property can still realize multiple offers. An over priced property, or one that has issues, will sit on the market, and require price reductions to realize interest. Interest rates are still attractive, but the affordability has dropped substantially because of the last few years of appreciation, and the tighter loan underwriting parameters from the Dodd Frank Regulations.
If you are in the Los Angeles area, have any questions or real estate sales or financing needs, feel free in contacting me.
Ron Henderson GRI, RECS, CIAS
Multi Real Estate Services, Inc.
Gov’t Affairs Chair – California Association of Mortgage Professionals
Real Estate market, mortgage rates, Los Angeles, San Fernando Valley, Conejop Valley, Simi Valley, Woodland Hills, West Hills, Calabasas, Chatsworth