Great news for my fellow Los Angeleans....Los Angeles made the list for the Top 10 Turnaround Towns in the housing recovery!! Our median price is UP 30% from this time last year! And our days on market have been reduced by 27%!! Although we cannot sustain this kind of growth, it's nice to see such positive reports, and let's hope that we slow down to a sustainable recovery rate in 2014!! With interest rates rising and the elusive QM taking effect in January, I think those factors will help to give our marketplace the balance it needs to sustain further growth at a much healthier pace!
Here's to optimism in the LA Real Estate Market for 2014....Cheers!!!
PLEASE SEE THE CHART BELOW FOR OTHER TURN AROUND TOWNS & THEIR NUMBERS.....