We are heading towards a Shakespearean tragedy here, extreme shortage of inventory.
The Los Angeles housing market is not going to recover if there is nothing for buyers to purchase. Â Getting a loan is not a slam dunk, but mortgage rates are at an all time low and more than half of California home buyers can afford the median price in the state.
So what is causing the anemic inventory?
The expected shadow inventory of homes hasn’t happened. Â Less people are willing to short sell their homes. Â Even thought they may still be upside down on their mortgages, they see hope in the rising prices and, if they can still afford to make payments, they are waiting for further price increases. Â Banks are also willing to wait out the market until their inventory increases in price.
And the government is helping fuel this optimism by keeping mortgage rates low and providing assistance with  the Housing Affordability Refinance Program (HARP), Home Affordable Modification Program (HAMP) and the like.
The Fiserv Case-Shiller index predicts that home prices will rise at a steady rate of 3.3% over the next four years. Â But nothing is going to rise if there is nothing selling.
It is extremely frustrating out their for Los Angeles home buyers.  If you are ready to sell your Los Angeles home now is a great time.  Priced right your home will probably receive multiple offers and sell quickly.  Please help.  Your contributions will be greatly appreciated.
New homes on the market this week in Los Angeles
Condo
Land
Rental
Single Family- 33550 PACIFIC COAST HWY
- MALIBU CA
- $225,000,000
- 16 Bed | 22 Bath | 25,025 SqFt
- 4.81 Acres
- 594 S Mapleton Dr
- Los Angeles CA
- $155,000,000
- 14 Bed | 27 Bath | 56,500 SqFt
- 4.6 Acres
- 10721 Stradella CT
- LOS ANGELES CA
- $150,000,000
- 9 Bed | 14 Bath | 20,841 SqFt
- 1.15 Acres
- 1200 Bel Air Rd
- Los Angeles CA
- $139,000,000
- 12 Bed | 17 Bath | 0 SqFt
- 2.08 Acres
- 1420 Davies Dr
- Beverly Hills CA
- $87,000,000
- 8 Bed | 14 Bath | 21,800 SqFt
- 7.8 Acres
- 1210 Benedict Canyon Dr
- Beverly Hills CA
- $85,000,000
- 11 Bed | 16 Bath | 27,150 SqFt
- 2.69 Acres
- 2571 WALLINGFORD DR
- BEVERLY HILLS CA
- $85,000,000
- 12 Bed | 24 Bath | 38,000 SqFt
- 5.2 Acres
- 71 Beverly Park
- Beverly Hills CA
- $79,500,000
- 12 Bed | 20 Bath | 30,500 SqFt
- 6.14 Acres
- 9000 W 3rd St Penthouse
- Los Angeles CA 90048
- $75,000,000
- 0 Bed | 0 Bath | 12,700 SqFt
- 1.29 Acres
- 32300 Pacific Coast Hwy
- Malibu CA
- $72,000,000
- 8 Bed | 10 Bath | 10,438 SqFt
- 2.79 Acres
- 24186 CASE CT
- MALIBU CA
- $69,995,000
- 5 Bed | 8 Bath | 10,527 SqFt
- 2.66 Acres
- 1859 Bel Air Rd
- Los Angeles CA
- $68,000,000
- 9 Bed | 13 Bath | 20,000 SqFt
- 1.39 Acres
- 67 BEVERLY PARK CT 67,68, 69
- BEVERLY HILLS CA
- $67,500,000
- 12 Bed | 18 Bath | 31,608 SqFt
- 9.85 Acres
- 10250 W Sunset Blvd
- Los Angeles CA
- $65,000,000
- 17 Bed | 25 Bath | 29,108 SqFt
- 2.81 Acres
- 1005 N Alpine DR
- BEVERLY HILLS CA
- $65,000,000
- 4 Bed | 6 Bath | 4,351 SqFt
- 2.66 Acres
- 133 S Mapleton DR
- LOS ANGELES CA
- $65,000,000
- 9 Bed | 14 Bath | 30,000 SqFt
- 1.1 Acres
- 271 S Mapleton Dr
- Los Angeles CA
- $63,000,000
- 8 Bed | 12 Bath | 31,450 SqFt
- 1.4 Acres
- 24188 Case Ct
- Malibu CA 90265
- $60,000,000
- 4 Bed | 7 Bath | 10,555 SqFt
- 3.45 Acres
- 10066 Cielo Dr
- Beverly Hills CA
- $59,995,000
- 9 Bed | 18 Bath | 21,000 SqFt
- 3.6 Acres
- 300 STONE CANYON RD
- LOS ANGELES CA
- $59,000,000
- 8 Bed | 13 Bath | 17,600 SqFt
- 2 Acres
- 11870 Ellice St
- Malibu CA
- $58,808,000
- 6 Bed | 10 Bath | 16,614 SqFt
- 1 Acres
- 530 S Mapleton DR
- LOS ANGELES CA
- $56,000,000
- 11 Bed | 27 Bath | 33,652 SqFt
- 1 Acres
- 28034 Sea Lane Dr
- Malibu CA 90265
- $55,000,000
- 3 Bed | 4 Bath | 5,507 SqFt
- 0.72 Acres
- 470 Layton Way
- Los Angeles CA 90049
- $52,000,000
- 8 Bed | 10 Bath | 25,000 SqFt
- 4.56 Acres
- 277 ST PIERRE RD
- LOS ANGELES CA
- $52,000,000
- 8 Bed | 20 Bath | 36,000 SqFt
- 1.1 Acres
- 755 Sarbonne Rd
- Los Angeles CA
- $49,995,000
- 6 Bed | 10 Bath | 15,000 SqFt
- 1.04 Acres
- 55 Beverly Park Way
- Beverly Hills CA
- $48,500,000
- 7 Bed | 12 Bath | 14,239 SqFt
- 2.79 Acres
- 780 TORTUOSO WAY
- BEL AIR CA
- $47,000,000
- Bed | 0 Bath | 0 SqFt
- 4.56 Acres
- 24824 Pacific Coast Hwy
- Malibu CA
- $46,900,000
- 8 Bed | 11 Bath | 6,742 SqFt
- 1.55 Acres
- 1550 Amalfi Dr
- Pacific Palisades CA
- $45,000,000
- 8 Bed | 15 Bath | 16,773 SqFt
- 1.32 Acres
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CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS), CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share).