If you are a La Canada home buyer, you are painfully aware of the increase in La Canada real estate values. Although May’s median value is down from its March high, its $236,500 higher than in January. The average La Canada home is selling over asking price. Although the absorption rate is the lowest for the year, I am hopeful that La Canada listing inventory will keep up with demand.
The run up in prices is prompting some housing analysts to question whether another housing bubble could be brewing. However, economists are quick to note that this isn’t 2006 and there’s no reason for concern of a repeat, at least for now. Click here to read the rest
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