January 2024 Market Report
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Market Statistics and Analysis
The graph below shows 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 last month’s rate of 2.6 indicates that we are almost in a neutral market.
The Federal Reserve has announced its 2024 plan which will include a quarterly reduction in the prime interest rate. This is great news as rates will be dropping by potentially 1.25% in the first 6 months of 2024. Click on the name of your neighborhood underneath the chart below to look at the specific statistics in your area.
Key Takeaways:
- The Federal Reserve to begin cutting rates in June
- Moving towards a neutral market
Data for your neighborhood:
