The Los Angeles real estate market has been on a steady incline all year but we may have hit a plateau as it has slowed to a snail’s pace. While Los Angeles is starting to slow down, the rest of the U.S. has been slowing down all year and hit an 8 month low in June, according to this Real Deal article. Los Angeles contributed to that with its slowest June in four years.
Although this past June was slowest in terms of sales in the past four years, prices are still rising. The median price for a home in L.A. County hit a new record high in June at $615,000 (heavily influenced by the low inventory on market). Curbed goes into greater detail about how hard this is making it for potential homebuyers, especially first time buyers. If you want more breakdowns on sales statistics, this article breaks it down a few times over.
One market has not slowed down in Los Angeles though, and that’s the multifamily market. With housing becoming a bigger and bigger issue in L.A. there has been a big push in multifamily investments. In fact, Real Deal states, “In the last year, there has been more multifamily investment activity than in any period in Los Angeles history.” With so many variables going up and down we should have an interesting back half of 2018!