Market Trends and Insights: April 2024 South Bay Real Estate

Market Trends and Insights: April 2024 South Bay Real Estate

  • 04/30/24

April 2024 Market Report

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Market Statistics and Analysis

The graphs below show the average Months of Inventory (MOI) in the Greater Los Angeles area. An MOI is how long it would take for the current listing inventory to sell out if nothing new were listed for sale. An MOI between 3 and 6 is an indicator of a neutral market, so the Los Angeles rate last month of 2 indicates we are in a seller’s market.
According to Forbes, “As we head into peak home-buying season, signs of life have begun to spring up in the housing market. Even so, still-high mortgage rates and home prices amid historically low housing stock continue to put homeownership out of reach for many.
Despite ongoing affordability hurdles, Fannie Mae forecasts an increase in home sales transactions compared to last year. Experts also anticipate a slower rise in home prices this year compared to recent years, but price fluctuations will continue to vary regionally and depend strongly on local market supply.”
Key Takeaways:
  • Home sales will increase
  • We are currently in a seller’s market

Work With Rachel

Rachel has a strong business ethic and unparalleled dedication to her clients. She is committed to providing extraordinary customer service! Rachel is a premier choice and client favorite for local home buyers and sellers. Rachel believes when choosing an agent to sell your property it is imperative that you select someone who is experienced in selling and buying properties in the area.

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