Los Angeles Housing Market Update July 2023
Los Angeles Housing Market Report 2023
Los Angeles Housing market
Is still experiencing low levels of inventory, yet there is a notable presence of eager buyers actively searching for a home. Just two Sunday’s ago, my open house had over 25+ buyers, received 11 offers and sold over ask in Valley Village!
One of the factors contributing to limited inventory is some homeowners are benefiting from exceptionally low mortgage rates often in the range of 3%.
This makes it less appealing for them to sell their current home and purchase a new one at potentially higher interest rates. Despite this, real estate transactions are still taking place, and multiple offers are still taking place in specific price ranges on move in ready homes.