Despite the high cost of real estate in California, residents of Los Angeles continue to acquire their own housing. Census data indicate that the number of homeowners in urban agglomeration of Los Angeles surpassed the number of tenants.
Currently 50.1% of the local population living in their own homes, while rented accommodation 49.9%. While the difference is hardly noticeable, but the margin in favor of the homeowners observed the region for the first time in two years.
This pattern has developed over the last few months, during which the market Los Angeles real estate has been stronger sales dynamics.
Despite the fact that a significant number of residents of the metropolis got their own roof over my head, the level of homeownership remains one of the lowest among large U.S. cities. More acute housing problem is only in new York and San Jose, where tenants make up a large part of the population.
Given the steady growth in house prices, it is difficult to predict how the situation will develop in the future. According to a recent report from the popular online site real estate Zillow, the average home value in Los Angeles reached $622,900, exceeding the previous year by 8.8%. According to the forecasts of the portal, the prices will continue to rise, and by next year will reach us $658.
