The Los Angeles County housing market is expected to remain strong in the coming years. Demand for properties is strong and inventory low in the region as homebuyers flock to the popular urban and coastal areas of the county.
Los Angeles county is projected to have a population increase of 8.4% by 2023, driving demand for housing to remain high. The median home value is forecast to rise 3.2% over the 2021-2023 period and is set to exceed the national average. Sales of existing homes in the region are expected to increase by 4.5%, in line with the national trend.
These factors are likely to support strong demand and keep homes appreciating in value. Additionally, the tax advantages of owning and living in the region will continue to attract buyers. The influx of wealthy individuals seeking to take advantage of the county’s amenities will further add to the existing demand.
Overall, the Los Angeles county housing market looks promising for the 2021-2023 period. However, buyers should be aware that inventory remains low, and rising interest rates may impact their ability to secure financing.