I posted an article a month regarding the potential flight from urban areas to suburban areas due to reactions to the pandemic. I've been following the trends ever since to see what would transpire after some time has passed. And it appears that the speculation that people would leave cities in droves was inflated. A few articles have already come out in the last week or two that show, with data, that people are not leaving urban areas and that suburban markets aren't any hotter than city markets. Zillow just posted an article about this today in one of my subscription news sources, Inman. Here’s a link to the landing page.

My thought was that there would be a knee jerk reaction to the pandemic by some active buyers, their mindset shifting toward living a little further away. But as we've all gotten used to the pandemic being here, and adjusting to the lifestyles that we now live, I figured that people would feel more comfortable in their new “normal.” And any active buyers would have basically normalized the conditions that we're in today. Then looking forward, Buyers would realize that when the pandemic passes and we have a vaccine for the virus, that we’d have a clearer path to getting back our old lifestyles. Buyers would be willing to wait for a year or two to be able to get that lifestyle back.

Los Angeles has remained an extremely busy real estate market. Anyone who's actively looking right now can tell you that it’s not a walk in the park, especially in prices under $1 Million. In fact, prices over $1 Million are beginning to experience more heated competition. So basically everything is getting a lot busier. That's the sum of it all.

If you're thinking about jumping into the market, be prepared for it to be competitive and be prepared to be aggressive right now. inventory is extremely low and activity is still high.

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