Weekly numbers show a healthy market

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!

Leading economists have differing views on recovery

Leading economists agreed at the recent American Economic Association meeting that economic output has fallen short of its potential. Additionally, the 2009 fiscal stimulus was not aggressive enough to spur the recovery, however policy will lead to faster growth.

What economists didn't agree on was how to improve the economy. Stanford economist John Taylor argued that government needs to go back to the "rules-based" fiscal policies which historically have shown careful growth - NOT the unusual policy steps of quantitative easing (the bond buying stimulus program, and the bailout of financial institutions), which he believes are not sound for recovery.

On the other hand, Harvard's Larry Summers worked in the turbulent Obama years of QE and the bailout; his solution was to go beyond the historic norms of fiscal policy and treat the economy as a patient, gauging and monitoring the condition to respond appropriately.

Who holds the keys to 2014's economy? All eyes are on nearly-appointed Federal Reserve Chairman Janet Yellen, who is a believer and practitioner of a rules-based monetary policy. Overall, 2014 looks to be one of the strongest years in the recent past with consumer spending up as housing and stock markets have risen.

Weekly market report for Northeast Los Angeles

The market has awakened slightly from it's holiday slumber! We are seeing slight increases in new listings, houses that are back on market, price reductions, and solds. Total inventory and pending/backups remained steady. January 6, 2013

• New listings: 23
• Back on Market: 9
• Price Reductions: 7
• Pending/Back up: 21
• Sold: 27
• Total available inventory: 189

LosAngeles-Real-Estate-report_1-6-14b

See the December stats after the jump .

December 30, 2013

• New listings: 15
• Back on Market: 5
• Price Reductions: 5
• Pending/Back up: 22
• Sold: 18
• Total available inventory: 193

December 23, 2013

• New listings: 21
• Back on Market: 6
• Price Reductions: 15
• Pending/Back up: 40
• Sold: 37
• Total available inventory: 228

December 16, 2013

• New listings: 22
• Back on Market: 7
• Price Reductions: 10
• Pending/ Back up: 31
• Sold: 39
• Total available inventory: 242

December 9, 2013

• New listings: 46
• Back on Market: 12
• Price Reductions: 12
• Pending/ Back up: 38
• Sold: 38
• Total available inventory: 244

Click on the map below to search active listings in Northeast Los Angeles:

NortheastLosAngeles

Looking to buy or sell? As a 30+ year resident of Echo Park, I know the area! Contact me today!

Areas in Northeast Los Angeles/the Urban Hillsides I serve include: Atwater Village, Echo Park, Eagle Rock, Glassell Park, Highland Park, Lincoln Heights, Los Feliz, Mt. Washington, Silver Lake, and Montecito Heights.

Weekly market report for Northeast Los Angeles

This week's numbers are an anomaly as we reach the lowest activity with Christmas and New Years. We present to you in pure form: the past week's numbers. December 30, 2013

• New listings: 15
• Back on Market: 5
• Price Reductions: 5
• Pending/Back up: 22
• Sold: 18
• Total available inventory: 193

See the stats from previous December dates after the jump.

December 23, 2013

• New listings: 21
• Back on Market: 6
• Price Reductions: 15
• Pending/Back up: 40
• Sold: 37
• Total available inventory: 228

December 16, 2013

• New listings: 22
• Back on Market: 7
• Price Reductions: 10
• Pending/ Back up: 31
• Sold: 39
• Total available inventory: 242

December 9, 2013

• New listings: 46
• Back on Market: 12
• Price Reductions: 12
• Pending/ Back up: 38
• Sold: 38
• Total available inventory: 244

Click on the map below to search active listings in Northeast Los Angeles:

NortheastLosAngeles

Looking to buy or sell? As a 30+ year resident of Echo Park, I know the area! Contact me today!

Areas in Northeast Los Angeles/the Urban Hillsides I serve include: Atwater Village, Echo Park, Eagle Rock, Glassell Park, Highland Park, Lincoln Heights, Los Feliz, Mt. Washington, Silver Lake, and Montecito Heights.

Weekly market report for Northeast Los Angeles

In our final full week of 2013, the market is appearing steady despite slight market resistance due to price reductions. A healthier economy is keeping the real estate market strong; we see an increase in pending and backup sales. December 23, 2013

• New listings: 21
• Back on Market: 6
• Price Reductions: 15
• Pending/Back up: 40
• Sold: 37
• Total available inventory: 228

Happy Holidays!

Holiday-Email-header

See the stats from previous December dates after the jump.

December 16, 2013

• New listings: 22
• Back on Market: 7
• Price Reductions: 10
• Pending/ Back up: 31
• Sold: 39
• Total available inventory: 242

December 9, 2013

• New listings: 46
• Back on Market: 12
• Price Reductions: 12
• Pending/ Back up: 38
• Sold: 38
• Total available inventory: 244

Click on the map below to search active listings in Northeast Los Angeles:

NortheastLosAngeles

Looking to buy or sell? As a 30+ year resident of Echo Park, I know the area! Contact me today!

Areas in Northeast Los Angeles/the Urban Hillsides I serve include: Atwater Village, Echo Park, Eagle Rock, Glassell Park, Highland Park, Lincoln Heights, Los Feliz, Mt. Washington, Silver Lake, and Montecito Heights.

Federal Reserve easing off on bond purchases

federal-reserve

As a sign of increased confidence in a stabilizing economy, the Federal Reserve is cutting back on its $85 billion per month bond-buying stimulus programs. This is the third round of easing off; the policy began in September 2012.

Beginning in January, the Federal Open Market Committee is tapering purchased of Treasury and mortgage-backed securities by $5 bill each, a 12.5% cut for the latter. Zero interest rates on Federal lending will remain unchanged.

It’s not a huge move – further cutbacks are expected in the future, it’s just unclear when that will happen as unemployment is still high and there is more recovery that needs to occur.