Los Angeles real estate market still hot
The National Association of Realtors (NAR)'s third-quarter median existing single-family home price survey indicates that Southern California, especially Los Angeles is still a very hot real estate market. While the Los Angeles real estate market slowed last year, especially towards the end, Los Angeles still saw 22.3% growth in home prices overall. (more)
For the entire Southern California area, Riverside-San Bernardino-Ontario, was the hottest local market, with an increase of 24.3%.
On the other hand, Orange County only saw 10.3% appreciation, while San Diego dropped to 6.3%.
Still, overall the Los Angeles area real estate markets are still smoking. While the general consensus is the market will slow, but still appreciate this year, there are a few areas to be especially worried about.
According to some real estate analysts, markets with lots of speculators could be hit the hardest as the real estate market slows down. Riverside and San Diego are seen as areas with an unhealthy amount of speculators (more).
For the entire Southern California area, Riverside-San Bernardino-Ontario, was the hottest local market, with an increase of 24.3%.
On the other hand, Orange County only saw 10.3% appreciation, while San Diego dropped to 6.3%.
Still, overall the Los Angeles area real estate markets are still smoking. While the general consensus is the market will slow, but still appreciate this year, there are a few areas to be especially worried about.
According to some real estate analysts, markets with lots of speculators could be hit the hardest as the real estate market slows down. Riverside and San Diego are seen as areas with an unhealthy amount of speculators (more).
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