City of Los Angeles Market Report April 2020

The Covid 19 Lock Down continues to keep Sellers and Buyers at bay for the most part. There is currently a listing drought causing transaction numbers to fall, but number of listings and number of sales are falling at different rates. Since inventory is falling faster then closed sales, the sales price hasn't plummeted. Prior to the Covid Pandemic the State of California was estimated in having a 3 million housing unit shortage of inventory and supply is not catching up any time soon. Will prices continue to be relatively stable as the local economy starts to open up is the big question.

If you have a question about your personal situation, feel free to contact me.