Last month 12 La Canada homes sold ranging from $777,000 to $5,650,000. Expect La Canada home values to continue to increase this year.
The ability to afford a home becomes more and more difficult. The foreclosure crisis is over, but it changed the real estate market. Starter homes are scarce because investors bought tens of thousands of them at rock bottom prices during the financial crisis and then converted them to rentals. According to census records, the number of single family rentals increased to over 15 million, up from about 11 million in 2009.
The lack of listing inventory is cause for serious concern for La Canada home buyers – competition is fierce; multiple offers and bidding wars, are common place. Call Phyllis @ 818 790-7325 to learn more about La Canada home values.