Home sales in Los Angeles County have declined for a fourth month in a row, and the number of pending sales has dropped more than 37 percent over August numbers. That’s according to a new report from realtor John Graff, who also notes that pending sales are down a staggering 48.9 percent since September of last year. They’re now down to the lowest level since 2012.
Violent crime in L.A. climbed 19.9% and property crime increased 10.3% through Dec. 26 compared with the same period last year, according to the police data. It marked the second year in a row that violent crime rose, but the first time since 2003 that both violent and property crime rose.
The cost of living, and especially renting, in Los Angeles continues to skyrocket and will continue to for the foreseeable future. A new third quarter rental market report by Marcus & Millichap confirms that rents are climbing all over town: asking rents citywide were up 7.8 percent to an average of $1,873 per month. For the year, the report predicts rents will climb 4.8 percent overall, “more than doubling the rate of inflation.”