Los Angeles & South Bay December 2019 Housing Market Update - The Market Shows Signs Of Renewed Vigor
Los Angeles real estate broker, Mike Weber, discusses where the Los Angeles and South Bay real estate market is at the beginning of December 2019. Find out the latest trends in median homes prices, the supply of homes on the market, and how many of them are actually selling.
With the Federal Reserve continuing to lower the federal funds rate and pump liquidity into the markets, mortgage rates have remained low, resulting in home prices taking off again and inventory starting to fall markedly compared to last year. As rates have been back to historic lows for around the last 6 months, it seems the local housing market is picking up more and more steam. With inventory starting to trend back toward very low levels, it will be interesting to see if prices continue to rise over the next several months. Time will tell...
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