Is it a buyer's or seller's market?
By John Wall
(CENTURY 21 Results)
Los Angeles County - The median sales price for single family homes rose 6.5% since January last year. Even with a 12.9% drop in sales, prices have remained strong and continued to climb. Homes may sit a little longer on the market, but, there is no longer a rush on housing.The market is correcting itself (as any free-market should) after a steady climb for the past couple of years. Although, many realtors and professional real estate players are calling this market a "buyer's market", many buyers disagree. According to the Los Angeles Times today, Mr. Brandon Brennan has been trying to purchase a home by making [buyer's market] offers only to be rebuffed by seller's who can't even be bothered to counter-offer.Home-sellers know that offers will come in and someone will come along with a...