Based on the California state housing market statistics, year over year pricing is up 1.5%, sales are down 11.6%, inventory is up 40% to 3.5 months (note 5 months is considered normal), and the time on the market is up 28%.
Overall the state statistics reflect a slowing, but fairly normalized market. Well priced properties that show well can still have multiple offers. Overpriced listings that have flaws can sit on the market.
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
President/Broker
Multi Real Estate Services, Inc.
Gov’t Affairs Chair – California Association of Mortgage Professionals (2017-2018)
BRE #00905793 NMLS #310358
www.mres.com
ronh@mres.com
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
Leave a Reply