The median home price in Los Angeles rose above the half-million mark last month up 3% since February, to $506,000. New homes rose 8.6% in the area and market growth is being credited to the region’s diverse economy and continued job growth.
So, market watchers are sill optimistic about future real estate trends in Southern California.
All factors considered, the market is stable and rising slowly at a sustainable rate. Real Estate is still the single best investment a buyer can make, even though (especially because) the explosive growth and rapid acceleration of home values are beginning to slow and normalize within the marketplace.