Tis the season, and unsold inventory remains low, so the property values continue to trend higher. The spring season brings out the buyers. The quantity of housing sales are up 6.9% year over year compared to 2016, but there would be more sales if the inventory level was more in balance with the demand.
I just returned from the National Association of Mortgage Professionals Legislative Conference in Washington DC. In discussing the markets with my associates from other parts of the nation, it’s apparent Los Angeles/California is not an isolated case. Tight inventory is prevalent though-out many regions.
To balance the supply/demand, the powers that be must allow for more housing construction and make it economically viable (a whole separate blog), or eliminate a percentage of the population… Building is easier…
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
Specialist in the Art of Real Estate Sales and Finance
Real Estate market, mortgage rates, Los Angeles, San Fernando Valley, Conejo Valley, Simi Valley, Woodland Hills, West Hills, Calabasas, Chatsworth