Changes in Los Angeles’ Real Estate Market on the Horizon
The LA real estate market seems to be shifting towards a buyer’s market making it a little easier for the potential homeowner to purchase. Homes are still as much as eight times the average income, but fewer homes have been selling above the asking price. With more homes on the market, using postcards for realtors can put you above the competition in the changing market. More buying Options The more homes on the market, the more opportunities buyers have to select the home of their dreams. Buyers may become more picky, want better deals and encourage sellers to offer more. Lower Interest Rates One positive effect of the changing market is lower mortgage interest rates. Buyers can purchase a home at these lower rates and save money on their budget. More Housing Inventory The market has slowly been adding more homes. While not at the historic level of inventory, LA homes are now listed at faster rates than a year ago. Home prices are currently still on the rise, but that could change w...