Lack of Homes for Sale in Central LA. Slowing Down the Housing Market ?

The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values in CENLA are up. Home sales are up. Distressed sales (foreclosures and short sales) have fallen dramatically. It seems that 2017 will be the year that the housing market races forward again.
However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the winter, supply is not keeping up.

Here are the thoughts of a few industry experts on the subject:
“Total housing inventory at the end of December dropped 10.8%...which is the lowest level since NAR began tracking the supply of all housing types in 1999. Inventory has fallen year-over-year for 19 straight months and is at a 3.6-month supply at the current sales pace.”

If you’re considering a MOVE to the Central Louisiana Area, You will want a Local Real Estate Professional to help guide you. Call JoAnn Deville Smith with RE/MAX Premier Realty. 318.451.2385

JoAnn Deville Smith 318.451.2385
Realtor RE/MAX Premier Realty
Each Office is Independently Owned and Operated
Licensed in the Stat of LA.


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