Prices Flatten, Sales Fall - July 2022 LA Housing Market Update
As a result of rising mortgage rates, the real estate market continues to cool off. Median home prices remain above last year's levels but are starting to flatten out. Closed and pending sales are both down significantly, and after far too long, we're finally seeing an uptick in inventory levels, which should be a welcome sight to buyers that have been having a tough time finding the right home. Watch the video to find out what's happening with pending sales, closed sales, median prices, and the supply of inventory.
Contact us if we can assist with your real estate needs.
