Although the June record defies this expectation, it does not mean these predictions will not prove true in the long term. In fact, as sales decrease (the Times reports sales are down 12% over the previous year), economists predict prices will stabilize. Of course, despite these changes, demand in Los Angeles County continues to remain strong as Los Angeles is still a highly attractive destination.
To read more check out Andrew Khouri's article in the LA Times.
Who's buying homes?
