Relevant:
- Median home price sinks in Southern California
- HousingWire
- Southern California Home Sales Rise 14% as Investors Make Record Purchases
- Velocity of home price increases and leverage for Los Angeles and surrounding markets -- Where are the California Real Estate Agents?
- Where did all the real estate inventory go? -- Orange County inventory down 29 percent over the last year and sales are up 25 percent. What is causing the current market dynamic in Orange County?
2012-09-27 — housingwire.com
``And if you're shopping in highly desired neighborhoods in states like California and Texas, finding steals in desirable neighborhoods is going to be much harder to do. Inventory levels in the counties of San Diego, Orange and Los Angeles are already down to a five-month low, the lowest point since the market's peak six years ago, Pro Teck said.
"This is significant because in the Los Angeles market over the past 25 years, whenever this indicator was below five months, the median price increased by close to 19% the following year," O'Grady said. "Of course, it remains to be seen if the same appreciation happens again."''
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