Southern California Real Estate:
Southland Home Prices Rise
Rise In Home Prices First Seen In Southern California Real Estate Market In 6 Years
Zillow has reported that the residential sector of the Southern California real estate market has seen some appreciation for the first time in 6 years. They also state they are expecting more appreciation in the near future ... small, but appreciation none the less.
Here's a report from Tiffany Hsu of the Los Angeles Times:
Home prices rise in Los Angeles after 6 years of depreciation
Tiffany Hsu - "Los Angeles homes are headed for a price spike – albeit a small one – according to new data from real estate website Zillow. After six years of depreciation, values in the metropolitan area rose 0.2% this quarter, and are expected to increase 0.5% over the next 12 months. Zillow forecasts that nationwide prices will tick up 1.1%." ... Los Angeles Times
Has The Southern California Real Estate Market Bottomed Out?
This is the question everyone is asking these days. There is no doubt that the Southern California real estate market is seeing some positive signals recently, and we've been reporting on them in these pages. These reports are coming from a wide variety of sources, and cannot be ignored. However, can they be interpreted in a completely positive way, or is there a darker lining to the silver cloud?
We'll need to keep a sharp eye on things until they become clearer.
Southern California Real Estate.