LA Real Estate Forecast

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Home prices reported for Los Angeles for the third quarter of 2014 rose approximately 8 percent year-over-year as compared to a more than 18 percent year-over-year increase reported for the third quarter of 2013. This data supports analysts’ predictions of further declines in the rate of residential price increases.

Inventory has increased and homes are sitting on the market for much longer periods then they did a year ago, but buyers don’t have the same sense of urgency as they felt last year. With the run up in prices over the last few years, many potential buyers have been priced out of the market.

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