Everything Falls But Prices - May 2023 LA Housing Market Update
Lots of new developments since the last market update video. The Federal Reserve raised rates again today another 25 basis points, and most market participants believe the Fed is now at the end of their hiking cycle and will likely start lowering rates before year's end, which I anticipate being the single most important factor affecting the real estate market going forward.
We're also either in a recession now or about to be in one soon, and there will certainly be implications as a result of that. In addition, we continue to see more and more programs aimed at supporting the market and increasing affordability, which continue to have their desired effect - pushing prices up and creating additional demand.
