Real Estate News & Market Analysis

The answers to these questions have been relatively easy to give for the last year or so. Today, however, this is not at all an easy subject to fully understand.

Last year at this time, there was approximately a four-month level of inventory. When the inventory level dips below six months, it is generally considered to be a “seller’s market”.

As most people must know by now, the housing recovery has been much greater than anticipated in 2012. While nationwide prices have increased by about 12% in the past year, in Pacific Palisades the median sale price and average price per square foot are up more than 17%.

In the past few months, the stage may have been set for a possible nationwide real estate recovery. The Federal Reserve has determined to do everything possible to maintain 60-year low levels of interest rates for the next two years.