If you follow the real estate market in Los Angeles, then you may have heard that it’s currently a seller’s market. Home sales have definitely been improving in price throughout 2013. There are many homes on the market now and there is a huge demand as well. The market, however, is not just for sellers. It’s also a buyer’s market, especially compared to last year when inventory was very low.
It’s a great time to buy in Los Angeles for a few reasons. First of all, with all of the beautiful homes on the market right now, there are great properties and options to check out and consider buying. Having a higher ratio of sellers does not necessarily translate into a disadvantage for buyers. Why is that? A property being listed on the market doesn’t mean that it will easily sell in a quick manner. As any home buyer knows, it can be quite a process to go through with a big transaction like a home sale.
When the market has many properties up for grabs, that can actually translate into lower prices and less competition for buyers. Buyers will be less likely to get pulled into awful bidding wars which force many folks to go over their budget.
The Los Angeles market is competitive in nature. The market is continually shifting and changing. While there may be ideal times to buy and sell, there are always great options for buyers out there. Now is as good a time as any!