Los Angeles near top of Housing Recovery

Housing Recovery

According to statistics from the National Association Of Realtors (NAR) the Los Angeles—Long Beach area ranked third in their July 2012 report on the nation’s housing recovery.

  • Median List price: $358,000, up 6.43% from July 2011
  • Inventory: 23,585, down 29% from from July 2011
  • Median time on the market: 65 days, down 10% from from July 2011

Locally, we are seeing a lot more multiple offers on attractive,well-priced homes…a practice out of fashion for the past several years.

From Realtor.com report:

“Low inventories, combined with rising list prices and lower times on market, are positive signs that the overall market is in a stabilization mode.

The recovery process, which began a year ago in Florida and has since spread to the West, continued to gain traction in July, with double-digit year-over-year list price gains in most California markets, as well as other hard-hit markets such as Phoenix, Boise City, Seattle, and Reno. On a year-over-year basis, the for-sale inventory declined in all but two (Shreveport, LA and Philadelphia, PA) of the 146 markets covered by Realtor.com.”

read more @ Realtor.com>>

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