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Spring Forecast for L.A. Home Sales

April 4, 2023

Spring Forecast for L.A. Home Sales

Spring is Here

Spring is here and is typically a busy time for our team to prepare our sellers to list their homes on the market. Simultaneously, we have been working diligently to find our buyers the best properties and deals possible in a market that remains very competitive.

In just these last two weeks, we have witnessed tightening mortgage underwriting standards as a direct result of troubles experienced in the banking sector; however, this hasn't stopped our most serious clients from staying focused in their home searches, especially with mortages rates dropping for 3 consecutive weeks and being the lowest rate within the last 6 weeks.

In uncertain times like these, it is all the more reason to work with our team made up of some of the best agents in the business. Our proven track record of delivering great results, especially during challenging times, provides assurance that you will be in great hands.

What's the Spring Forecast for L.A. home sales?

Pick up 5 different newspapers and you may get 5 vastly different stories about the housing market: Median home prices have dropped year-over-year for the first time since 2012! The number of home sales is up month-over-month! Interest Rates are up! Interest rates are down! Even headlines such as this one by CNBC can be confusing at first glance: "Home sales spike 14.5% in February as the median price drops for the first time in over a decade."

What are we to make of all the mixed messages? We have to remind ourselves that the Los Angeles market is significantly different from other markets in California (including the Bay Area) and the rest of the country. And even within Los Angeles, how the market is behaving depends on the popularity and appeal of specific locations. You would be best served to discuss with a team that is truly "boots on the ground" in the areas that you are most interested in, a team like ours that is working on listings and transactions and writing offers on a daily basis.

We have fortunately been very active and successful this year so far in this crazy market, completing sales and purchases throughout much of Los Angeles. If your goal is to purchase for a good deal, we can identify those pockets that may be under-the-radar at the moment with potential great upside. If you are seeking a home in a coveted neighborhood, we can formulate the best strategy to help ensure you do not lose out to other interested buyers. Additionally, our team has a number of off-markets and we have partners with coming soons that we can give you access to.

Please feel free to reach out if you have any specific needs and to see how we can give you an inside advantage into certain markets.

Read Our April Newsletter Here

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