Los Angeles & South Bay July 2019 Housing Market Update - Median Prices Falling!
Los Angeles based real estate broker and consultant Michael Weber discusses where the Los Angeles and South Bay Beach Cities housing market is currently at. While median prices in Los Angeles County have come down modestly about .5% from a year ago, the decline in the South Bay is much more pronounced at about 5%. This is not a good sign for the housing market, as prices have generally risen every month year/over/year for a very long time.
Inventory also continues to grow and the number of closed sales continues to fall and this is all in the face of extremely low mortgage rates and a plethora of new programs designed to help buyers get into homes with little or no money out of pocket.
Are you thinking of taking advantage of this new softer market to buy a home or an investment property? Is it time for you to sell and make a move or downsize into a smaller home and lock out some of your equity for retirement?
If so, give us a call today. We're here to help.
