Yahoo Finanza LA Home Prices Up Over 9% And Likely To Keep Climbing - Here's How Investors Can Benefit From This Growth
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The real estate market in Los Angeles is on fire, with home prices soaring by 9.3% in March 2024 compared to the previous year, according to a recent Zillow report. The average price of a single detached home in the Greater Los Angeles area now stands at a staggering $959,400.
Limited Supply Drives Price Surge
The primary driver behind the skyrocketing prices is the lack of supply. New listings have only increased by 2% compared to 2023, resulting in fierce competition among buyers. In fact, 49% of all home sales in L.A. have seen buyers paying over the asking price, and homes are typically snatched up within just 13 days – six fewer than in March 2023.
Despite the current high interest rates, with the average 30-year mortgage rate at 7.9%, experts predict that prices will continue to climb. As rates eventually come down, buyer demand is expected to increase even further, putting additional upward pressure on home values in the already competitive L.A. market.
Investing in L.A.’s Growth
For investors looking to capitalize on the tremendous growth potential of the Los Angeles real estate market, Nada’s Los Angeles Cityfund offers a unique opportunity. The city’s varied job market, cultural vibrancy and commitment to sustainability make it an attractive destination for professionals and creatives alike, fueling the demand for housing.
The Cityfund allows investors to participate in the city’s imminent expansion by investing in a multitude of owner-occupied homes through their innovative home equity investment product, and the minimum investment is only $500. This groundbreaking approach enables anyone to own fractional shares of the most sought-after homes in Los Angeles, regardless of where they live.
Investing in the Los Angeles Cityfund is more than just a real estate play; it’s an opportunity to mold the urban landscape and actively engage in the city’s ever-evolving narrative. Los Angeles’ cultural richness, world-class dining and year-round events create a unique quality of life that resonates with a diverse population, ensuring long-term viability for investments.
A Prime Opportunity
With home prices in Los Angeles surging by over 9% and showing no signs of slowing down, investors have a prime opportunity to benefit from the city’s continued growth. The limited supply of homes and the potential for increased demand as interest rates fall make L.A. an attractive market for real estate investment. Through Nada’s Los Angeles Cityfund, investors can now own a piece of the city’s most desirable homes and participate in shaping the future of this dynamic metropolis.
Learn more about the Los Angeles Cityfund
This article LA Home Prices Up Over 9% And Likely To Keep Climbing - Here's How Investors Can Benefit From This Growth originally appeared on Benzinga.com
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