Los Angeles Real Estate Contributes as a Key Factor in Easing the City Out of Recession

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Forbes magazine has included Los Angeles in its list of the top 10 “cities where the recession is easing.” The metro area has strong industries and the demand for real estate here has returned in force.

L.A. is a world city with a strong, diversified economy that’s one of the largest in the world, says Noël. Real estate here will always be in high demand.

The leading Los Angeles real estate agents of the Noël Team bring investor attention to the Forbes magazine article naming the Los Angeles metro area #9 in its recently released list of “Cities Where the Recession is Easing.” Citing the strength of the city’s core industries, as well as its strongly rebounding real estate market, the article states that despite California being hard hit by the housing crisis; “Los Angeles rises above the rest of the state, and other big cities in the country, to No. 9 on our list.”

Forbes based its rankings on factors such as the unemployment rate; the job growth rate from December 2007 to December 2009; job-growth forecasts; the improvement of single-family homes’ median sales price over a certain period; and the Metropolitan Gross Domestic Product. Los Angeles ranked #31 in unemployment, #4 in home price; # 27 in job growth from 2007 to 2009; #12 in future prospects for job growth; and #2 for gross domestic product.

“One cannot say that Los Angeles is a completely recession-proof city, but it is certainly a very resilient one,” says Sherri Noël, one of the metro areas foremost Westside LA Realtor. “Home prices here are already improving as homebuyers once again flock to the area’s most prestigious neighborhoods, with many wanting to invest in Westside LA homes for sale.”

Los Angeles may be more well-known for being the Entertainment Capital of the World, but it is also, among other things, a major banking and finance hub, one of the largest manufacturing centers in the country, and one of the busiest ports in the world. “L.A. is a world city with a strong, diversified economy that’s one of the largest in the world,” says Noël. “Real estate here will always be in high demand.”

Need the advice and assistance of a seasoned Los Angeles Realtor? Sherri Noël’s Santa Monica, CA and Westside LA real estate team, the Noël Team, offers in-depth market knowledge and a comprehensive menu of services which includes an extensive social media marketing plan that provides unmatched exposure for Westside Los Angeles real estate. For more information on the real estate investment opportunities in Los Angeles, visit their website, http://www.SherriNoel.com.

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