The Top L.A. Real Estate Groups 2014 Real Estate Forecast

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Home prices will rise in 2014 but at a slower, more steady pace compared with historical trends. This will give buyers who have been losing out in multiple offers in 2013 a chance to secure their place in the market.  Clear Capital forecasts that home prices nationally will rise by 3 percent to 5 percent in 2014, about the historical average. Kiplinger expects an increase of 4 percent.

A decline in foreclosures...

One of the biggest scars from the housing crisis, foreclosures, is rapidly fading away. Foreclosure activity posted a 15 percent month-to-month drop from October to November, the largest monthly drop in three years, according to RealtyTrac in its latest foreclosure report. Foreclosure filings have posted a 37 percent decrease from year ago levels.  Reports on foreclosure filings, default notices, auctions and bank repossessions all showed big declines in the latest report. The number of homes entering the foreclosure process has dropped by two-thirds since the peak of the housing crisis in 2010. The number of homes that have started the foreclosure process has fallen to its lowest level since December 2005.



With loans being more attainable and a steady supply of inventory, the outlook for buyers in 2014 is positive.  Investment opportunities should also be readily available continuing the improvement of neighborhoods and condominium buildings.

To keep your eye on listings coming to the market in the new year, visit the Number 1 Condominium and Single Family Home websites at: TopLACondos.com & TopLAHouses.com

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