Resilient Prices, Rising Rates, Low Activity - Nov. 2023 LA Housing Market Update
This last month has been quite interesting for the LA real estate market. Even though rates peaked recently above 8%, prices remain resilient as a result of the low inventory levels. In both commercial and residential real estate, many market participants continue to hold off on transacting real estate for the time being in the hopes that the grass will be greener ahead.
However, the nation currently faces some serious economic circumstances that could lead to outcomes drastically different from what people expect, including much stronger inflation and/or much higher interest rates.
Watch the video to find out what's happening with pending sales, closed sales, median prices, and the supply of inventory. How can we help you with your real estate needs? Give us a call today.
