Now could be the perfect time to buy.
If you’ve been considering the purchase of a new home in Los Angeles, right now could just be the ideal time to do so. That’s because, according to Zillow, LA is becoming a buyer’s market.
Just like most other products and services, “supply and demand” can oftentimes impact real estate prices…and with more inventory at the start of 2019, it can signal more good deals for purchasers.
This, in turn, can also be a sign of more buying options when shopping for your next dream home. So, while home prices in the Los Angeles area still rose in the first month of this year (in comparison to January of 2018), the increase was actually minimal – and is considered to be the slowest rise in years.
In addition, mortgage rates – which can have a key impact on home buyers’ budgets – declined in the first month of 2019, which is another plus on the side of purchasers. This is particularly the case if you are leaning towards a 30-year loan.
After years of accelerating prices, the home market in LA can be enticing to both single family property purchasers, as well as for those who are seeking a low-maintenance condo.