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Elliman Report: Los Angeles Sales 1Q 2017

Stabilizing sales and inventory trends along with rising prices characterized the Westside and Downtown Los Angeles housing market. There were 1,100 sales, down a nominal 0.9% while inventory edged up 1.5% to 2,441 respectively from the year ago quarter. As a result, the absorption rate, the number of months to sell all listing inventory at the current rate of sales, edged nominally higher to 6.7 months from 6.6 months in the year ago quarter…

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