There has been a lot of conversation lately about what the housing market will look like this spring. After a year of emphatic recovery in 2013 in which prices saw double-digit increases in the Los Angeles area, there is some concern that this spring’s season will be less robust. Recent numbers from DataQuick show that prices in February were mostly flat and sales fell. However winter is traditionally a slow month for housing sales but year-over-year data has been low.
For their article on the current state of the market, the Los Angeles Times turned to Rodeo Realty President Syd Leibovitch to get his take on local real estate. He told the Times that he predicts a busy spring, especially as inventory concerns start to ease around the Southland. Syd predicts a busy spring noting that more homes have come on the market and some are selling well above asking price, noting that the demand influx is starting and ” it seems to be starting big time.”
As California’s economy and unemployment situation continues to improve it will likely also boost the housing market. For the complete story, please visit the LA Times website.