Note: This story was originally posted by Doorloop and authored by David Bitton on December 7, 2022.
Los Angeles Housing Market Overview
Lets take a look a the Los Angeles Housing Market Predictions and Forecast for 2023. If you are a real estate investor, you know more than anybody how important the housing market is.
Moreover, how important it is to be able to predict how the market is going to behave.
Since the real estate market depends on many other market trends, it can be difficult to pinpoint exactly how it will behave.
But, it is possible to give some predictions and forecasts for the real estate prices.
In this guide, we will be going over some of the Los Angeles County market trends, as well as some predictions for 2023.
First, let’s look at an overview of the current markets for Los Angeles.
Los Angeles Home Value
First off, we will be going the Los Angeles home values or, more specifically, the median home price. The median home price is basically the middle point for real estate prices.
It is important to note that this is not the same as the average home price. It is the very middle of a data set, so the middle of all the home prices in an area.
The median home price in Los Angeles right now sits at around $928,000. This value is around $600,000 more than the U.S. median home price and $130,000 more than the statewide median price. In the past year, this figure has risen about 16.7%. And, in the past 5 years, the home price growth has been about 114.2%.
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