There are two significant observations this week, primarily with new listings and price reductions. New listings are up 23 from the previous week, the highest since December 9, 2013. Price reductions were also up significantly to 17, last reaching this number November 21, 2013. This shows a strong market with indications of perhaps a plateau with the larger number of price reductions.
Couple these indicators with the surprise of lower mortgage rates and we have a positive, healthy market.
January 13, 2014
- New listings: 40+
- Back on Market: 7-
- Price Reductions: 17+
- Pending/Back up: 27+
- Sold: 27+
- Total available inventory: 196+
LosAngeles-Real-Estate-report_1-13-14
Want to see how these compare? View our past weekly real estate market reports!