- Rising rents are motivated more potential first-time buyers to eye a condo or townhome purchase.
- Sherman Oaks, Studio City, Encino and Tarzana seeing an increase in teardowns.
- The San Fernando Valley enter 2016 with a less than two months of supply.
The San Fernando Valley real estate industry is coming off a banner year. Existing single-family home prices rose by nearly 7 percent and the volume of closed sales (6,108 homes) reached its highest tally in five years.