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 at rock-bottom prices during the financial crisis and then converted them to rentals. According to census records, 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, and multiple offers and bidding wars are commonplace. Call Phyllis @ 818 790-7325 to learn more about La Canada home values.
