"The L.A. metro area is benefiting from an improvement in the labor market and fewer distressed homes for sale, said Stuart Gabriel, director of the Ziman Center for Real Estate at UCLA. Distressed homes include those sold in a short sale or after foreclosure. There is also an issue with the supply of homes on the market. Realtors and analysts have told KPCC that fewer homes for sale and a high demand from buyers, has driven prices up. Gabriel said he expects a new supply of homes to come on the market in the next year..."
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