By Briana Frazier
Whittier & La Habra on spotlight: Just how safe are the two cities for investors
T
he number one question that people have been asking themselves this year is whether the housing market will crash. This is understandable as the Great Recession left a lingering bad taste in most people. The current price appreciation and the beating the economy took when the pandemic hit has also fed the overall anxiety that the housing market is in a price bubble. A bubble that may burst at any moment. It is okay to have these worries as investing in real estate is a big step. To know whether a market is safe, you will need to analyze different metrics within it. These include: the state of the economy, interest rates, the supply and demand dynamics. Now, how safe are the Whittier and La Habra housing markets? WWW.THEPOWERISNOW.COM
INVENTORY It is no news that inventory all across the country has been slim, and California has been no exception. There have been more and more homes entering the market, but they are not nearly enough. Whittier, for example, in June had 157 new listings, a drop from the 172 homes listed in May. The number of homes sold in June was 150, increasing from the 115 homes sold in May. On the other hand, according to Zerodown.com, the number of homes coming into the market in La Habra is even smaller than that of La Habra. In June, there were 80 new home listings, increasing from the 68 from the month before. More homes sold in June, though, with 55 homes sold, 3 more than those sold in May. The numbers show that there aren’t still enough homes getting into the market. There may be an imbalance in the supply and demand dynamics, but it doesn’t signify a crashing market. For that to happen, the supply of homes must greatly outweigh the demand. The opposite is true for both Whittier and La Habra. l
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