The shortage of homes that are for sale in Los Angeles is accelerating.
Inventories in November dropped 11.2% annually.
This comes at a time when low-interest rates are increasing buyer demand.
The housing shortage is felt most at the entry-level of the market.
Traditionally, housing inventory goes down in the 4th quarter of the year... but 11.2% is a big drop.
Inventory should pick up slightly in the first quarter of 2020.
