The real estate market in California has recovered. This is proven by the statistics that we see emerging from the Los Angeles real estate market. Although there continue to be some gloom-and-doom people out there who are concerned that the past problems with the real estate market aren't yet over, the facts suggest that we're on our way to a full recovery. There are three factors exhibited in the Los Angeles real estate market which lead us to this conclusion: improved home sales, increased median home sale prices and a decreased number of unsold homes in the area.
Improved home sales are the most obvious sign that the Los Angeles real estate market has recovered. Statistics indicate that home sales in the state of California have increased month after month for the past fourteen months. This is due in no small part to continually increasing home sales in the Los Angeles area. If more homes are selling each month for over a year straight then doesn't that signify that the real estate market has recovered?
Of equal importance is the fact that the median price of the homes that are being sold is also on the rise. Buyers aren't just looking at buying cheap foreclosed homes anymore. They want to buy the good homes that are of high value. They want to buy the kind of Los Angeles homes that they really want to live in. Statistics show that median home prices have been rising steadily for the past six months which is another great sign that the Los Angeles real estate market is on the upswing.
Finally, we can look at yet one more statistic to prove that the real estate market here has improved. That statistic is the number of unsold homes on the market. When the Los Angeles real estate market was bad there were a lot of homes listed for sale that just were not selling. The rate of failure-to-sell is nearly half what it was last year at this same time for this particular region. These three things clearly indicate that it's a smart time to buy real estate in Los Angeles because this market has improved considerably and is only going to get better.
Source: http://www.benzinga.com/17581/ca-real-estate-recovery-home-sales-increase-for-14th-straight-month-median-prices-for-6th-mont
