The California housing market is one of the hottest and most profitable in the United States. In California, the Los Angeles real estate market is considered as one of the premier markets for both investors and homeowners. As Los Angeles home prices remain an all time high, is 2020 the right time for wealthy investors to invest in the Los Angeles real estate?
In this article, our focus will be on the Los Angeles real estate market trends and investment opportunities in 2020. Home prices in the Los Angeles housing market have risen steadily in 2019 and will continue to rise in the next year as well.
Los Angeles is home to around four million people. It is the largest city in California and the second largest in the United States. The L.A. metropolitan area with over 13 million people rivals New York in population as the largest in the country.
However, being a huge real estate market is not reason enough to invest here. According to several real estate experts, the home values in Los Angeles will continue to rise in 2020, but at a significantly slower rate than the nationwide average.
That is good sign for buyers and investors as far as affordability is concerned as nearly three in four residents of Los Angeles County can’t afford to buy a median-priced home in the area.
The real estate appreciation rate in Los Angeles is predicted to remain modest throughout 2020. If you are an investor, Los Angeles real estate has a record of being one of the best long term investments in the nation.
However, not every real estate investor wants to enter the most expensive and competitive Los Angeles real estate market. For buyers, the affordability is dropping and only 30% of LA county residents own a home.
Home Prices are so high and out of reach for many buyers – many consider LA homes grossly over-priced. While Los Angeles home prices may be increasing slightly over the next year, the fact remains that there are many homes available at fair prices.
Is Los Angeles going to be one of the hottest real estate markets for investors in 2020? To answer this question, let’s take a look at the latest Los Angeles housing market trends and find out the prospects of investing in the Los Angeles real estate in 2020.
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