Los Angeles housing inventory rising

It's time for another quarterly update of single-family housing inventory around the core parts of Los Angeles.

And not surprisingly, there's not much to like in the numbers.

Readers of this blog may know that I like to track real estate numbers on a quarterly rather than monthly basis.

Overall in the core areas we cover -- downtown to the ocean and the southern San Fernando Valley (Toluca Lake to Encino) -- inventory is up 15% over three months ago.

In some areas, the numbers are quite dramatic:

• 90405 Santa Monica -- up 58%
  
• 90024 Westwood -- up 45%
  
• 90403 Santa Monica -- up 43%
  
• 91607 Valley Village -- up 33%
  
• 90210 Beverly Hills -- up 29%
  
• 90077 Bel Air/Holmby Hills -- up 28%
  
• 91602 Toluca Lake -- up 25%

Obviously, these kind of increases do not bode well for suggestions that prices will stabilize in these areas in the short term. These kind of inventory increases suggest prices may still be headed down in these areas.

In my next post, I'll examine the inventory numbers relative to sales figures for the three months of the year to give even better insight into where the market is headed in the best areas of Los Angeles.

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