We will discuss the Los Angeles housing market trends and forecast for 2021. After the impact of the pandemic, which halted the market for a while, we saw the first rebound in home sales in June of last year. Since then the home prices & sales have been accelerating year-over-year across the Southern California housing market and Los Angeles is no exception.
It is a no-brainer that low-interest rates haven’t been enough to motivate sellers who are unable or unwilling to list their properties in light of the job losses stemming from the underlying recession. This has resulted in a tight housing inventory, accelerating prices to unsustainable heights compared on a year-over-basis.