Los Angeles Housing Market Loses Momentum, Moves Sideways

(Click on the image to enlarge)

Since April, 2017 – save the October outlier – the Monthly Median Sale Prices remained range-bound between $775K and $825K, without any upside momentum. Of course, this pause was widely expected after LA's V-shape recovery since the bottom of the last recession.

The normalized trend (bottom chart) is in tandem as well, staying within a tight range of $550 to $600/SF, with October being the outlier. 

Considering that the LA market has failed to show any upside momentum for over a year now, it needs to stay above the $750K support absorbing the rate hikes; or else, it risks facing significant downside potential.

Note: This analysis covers the City of Los Angeles, not the entire Los Angeles County.

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