will the house prices come down in los angeles?

Asked by Mvanyan, Sylmar, CA Sun Jun 15, 2014

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Tory Hoyer, Agent, Los Angeles, CA
Wed Jun 25, 2014
No one can predict the future in all certainty but we can take a look at the facts and make educated guesses.

The facts:
*Interest rates are still relatively low
*Home prices are generally on the rise
*Inventory is low

What this means is, it's an attractive time to buy right now but there is a lot of competition for well priced homes. A strategy for home sellers right now is to actually price their home below market value to get multiple offers. Buyers are bidding each other up, driving the cost of homes up. If the inventory was higher, there could be a chance for selling prices to dip a little. Interest rates could go up though!
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Karina Fraley…, Agent, Agoura Hills, CA
Mon Jun 16, 2014
Hi Mvanyan,

While it's impossible to predict the far future of the housing market the answer for the next few months is No. In fact as you can see from this article below housing prices all over LA are rising. My suggestion is to contact a Realtor and work with her or him to hone in on an area that will fit your needs, and be reasonably priced for your budget. There are many neighborhoods that are on the up-and-up that people aren't thinking about yet, but where I speculate prices will rise even more in the near future. Feel free to contact me for more thoughts about good neighborhoods to look at right now, no matter what your budget.

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