Dear Visitors and Friends,
The housing market is still confusing to most but while the nation’s housing market seems to be struggling, Los Angeles has a 7 percent increase in SALES even though sales have plunged nationwide by 27 percent.
Home prices in Los Angeles have also increased year over year by 7.5 percent from Aug 2009.
Stuart Gabriel, director of the UCLA Ziman Center for Real Estate said, “They (the latest numbers) suggest the housing market in Los Angeles has found a bottom and is slowly moving up.”
Some cities even saw double digit increases in number of sales from Aug 2009: Santa Monica, Hollywood, Glendale to name a few.
For Beverly Hills visitors, in Beverly Hills 90210 the number of sales for 2009 in Aug was 6 and in Aug 2010 it was 11- an 83% increase.
For more information feel free to call me any time.
The information in this blog was taken from The Los Angeles Business Journal issue Sept 13, 2010.