With an increase in foreclosures, we will see an influx of properties on the market. Many stressed buyers have bills that are becoming increasingly difficult to manage as the pandemic continues. Raising the question for stressed buyers, “is the premium I pay to live near good schools, boutique stores, entertainment venue, and organic grocery store justified?” It may not be worth it if you are essentially paying to supervise your child from their laptop, or can no longer comfortably peruse the neighborhood amenities. Neighborhoods like this are commonplace in Los Angeles and over the last 8 weeks, there has been an increase in price as demand outweighs supply. The buyer demand will likely decrease if unemployment remains at a record high (16.3% in California) and stimulus packages aren’t renewed. Tack on an increase in supply as a result of homeowners who held off on selling during COVID beginning to enter the market and there will be a shift to a more buyer-friendly LA real estate market.