Market update L.A. – How the writer's strike will impact home prices
The WGA strike has the potential to massively impact the local real estate market. My prediction in the near term is that new inventory will continue to shrink. Why? Because some Sellers will not want to list their homes during this uncertain period. Also, not every price range will be affected equally. Buyers and Sellers in the $2M - $4M price ranges will be the most affected. Why? The lower price points have the most Buyer activity and therefore are more insulated from headwinds. And those Buyers $5M and up are less reliant on a few months of income in order to make their purchase work. These higher-end Buyers generally have lots of reserves.
You may know our Jones for small, perfectly curated outdoor spaces (as long as there is room for a cold plunge). These spaces, in our experience, are way more utilized than larger yards.
Ready to discuss Selling or Buying and need advice? Feel free to reply to this email... we'd love to speak with you.