As a realtor, one of the questions I get asked most often from people is "how and when can I start buying my first home?"
First off, you would need to know:
1. How much do homes cost in LA and why are they so expensive?
According to real estate tracker CoreLogic, single-family homes in LA recently sold at median price of $620,000, while condos fetched for $500,000. (Of course, these numbers are also largely neighborhood dependent)
2. Why are homes so expensive?
A huge variety of factors are to blame for LA’s high home prices, some of which include- the area’s persistent desirability among affluent buyers and a lack of new construction to satisfy its buyer demand.
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