California Association of Realtors just published the statistics for February 07 through February08 and while many California cities experienced sharp drops in value, Los Angeles was slightly up at +.07%. What is surprising is that prices remained stable while number of homes sold was down sharply.
The fact is that there is very little on the market now and that must explain the stability in the market. I would not expect any price erosion until we have a lot more supply or less demand. For now we are stable and the reason there is so little on the market is that Sellers do not want to sell in this market.
For a no obligation opinion of value, please call or email
Richard Klug 310-786-1817
Tuesday, March 4, 2008
Subscribe to:
Posts (Atom)
