LA home sales fell 0.4% over the past year: CoreLogic

Prices kept escalating despite a dip in transactions

TRD LOS ANGELES /
Nov.November 20, 2015 10:06 PM

The Los Angeles housing market appears to be flattening out.

The number of homes sales in the L.A. region fell by 0.4 percent year-over-year in October, after nine months of straight increases, according to data from CoreLogic.

The lag may be a sign that buyers are starting to pull back amid rapid price escalation.

“Southern California home sales lost steam in October, dipping more than usual from September,” said Andrew LePage, research analyst with CoreLogic. “Sales remain constrained by a tight inventory of homes for sale and lower affordability.”

Prices kept climbing despite the slowdown, with the median price for a home jumping by 5.8 percent to $490,000. [CNBC]Katherine Clarke

 

Related Articles

arrow_forward_ios
Many are indeed leaving LA

Leaving LA: Rising home prices are pushing residents out: report

Home sales shrink in Southern California for 4th straight month

LA’s home prices are soaring and homes are flying off the market: report

Why LA landlords are choosing to sell rather than retrofit

The Silicon Beach housing market is red-hot: report

Home owners listing luxe homes face pressure to throw in extra perks

It’s taking LA luxury homes twice as long to sell: report

What you need to know about LA neighborhood prices, in one chart

arrow_forward_ios