Housing Market Overview (April 2021) - California, Los Angeles County, Torrance, Palos Verdes

Due to lack of homes for sale but roaring buyer demand, housing prices are still going up. Homes in California sold at the fastest pace for the most money. And so far, there seems to be no end in sight.
Unless many homeowners list their homes for sale, this trend will continue. The mortgage rate will be another factor to keep an eye on. There is a widespread fear of inflation which may lead to higher rates; and, higher rates will decrease buying power. Housing affordability may become more of an issue as home prices continue to rise. Many families could find themselves priced out. However, in the past in California, we have seen home prices rise even when the affordability index was in the teens.
Market data and charts from California Association of Realtors.
Feel free to reach out if you need my assistance in your real estate dealings.
Becky Park of Peninsula Realty Inc.
DRE 01404867
Direct: [phone]
E-Mail: [e-mail]
0:00 Intro
1:20 California Housing Market Overview
3:12 Los Angeles County Housing Market Overview
3:30 Torrance Housing Market Overview
3:53 Rancho Palos Verdes Housing Market Overview
4:14 Conclusion
#HousingMarket #RealEstate #Seller’sMarket #BuyingAHome

[@ken123432]

Prices of homes won't be going down for at least 15 years to come. Also it's the wrong order of magnitude to say it's because low inventory of homes.

[@ericyister]

Home prices may be rising in USA but it's nothing compared to real estate bubble in Seoul (S. Korea), Tokyo or in Hong Kong.

[@brokerbecky8734]

I heard so too. Even though population in Korea is declining, Seoul is seeing price appreciation because everyone wants to live there. Real estate is all about location, location, and location.

[@ryanfewster574]

👍🏻

[@dman747]

Are there a lot of people from the San Francisco Bay area moving to the LA area? That includes people from San Jose and Silicon Valley.

[@brokerbecky8734]

I don't know if there are a lot of people moving down from Northern California but currently working with one client who is considering a move.

[@kamilien1]

Question: what do you think will happen when the # of homes on the market doubles?

[@brokerbecky8734]

Real estate is very local so it would depend on each area. This week, there were 43 offers on a Torrance house that my clients wrote on; I think even if the number of homes for sale doubles, these buyers will still face strong competition.

[@pearlperlitavenegas2023]

Real estate agents need to start looking for a side gig 🤣asap

[@brokerbecky8734]

I hope not. 😉 I've been in this profession full time for the past 18 years and I hope to continue until I retire.