Updated
Is everyone leaving Los Angeles? No. Despite viral U-Haul statistics and exodus headlines, homes across Northeast LA are still closing, often with multiple offers, because move-up buyers, relocating professionals, and investors keep filling the gap left by anyone who does leave.
If everyone were actually leaving Los Angeles, I’d be out of a job. I’m not out of a job. Let’s start there.
The Headline vs. The Escrow Table
The exodus story gets told through U-Haul price differentials and viral posts from people who moved to Austin or Boise — even though statewide population data tells a more complicated story than a single headline. What it doesn’t show you is who’s sitting across the escrow table filling the gap. And there’s always a buyer filling the gap — homes in Northeast LA are still closing, still getting multiple offers in the right price bands, still moving in weeks, not months, when priced correctly.
Who’s Actually Showing Up To Buy
Move-up buyers who’ve built equity elsewhere in the city and are trading into more space. Out-of-state buyers relocating for jobs that specifically require LA presence — entertainment, tech, healthcare, aerospace — who don’t show up in a “who’s leaving” narrative because they’re the ones arriving. And a steady stream of investors who read the same “LA is dying” headlines as a buying signal, not a warning. That’s exactly the pool of competition behind why so many financed buyers keep losing the house they actually wanted.
Why The Exodus Story Is So Sticky Anyway
Because it’s a better story than “the market is normalizing.” Nobody shares a post about a family that stayed in Highland Park and is doing fine. They share the post about the guy who sold his house for triple what he paid and moved to Idaho. Selection bias isn’t a conspiracy, it’s just what gets clicks.
What This Means If You’ve Been Waiting For LA To “Empty Out”
If your strategy has been to wait for inventory to flood the market and prices to crater because “everyone’s leaving,” you’ve been waiting on a housing crash that isn’t actually happening. The market is cooling — that part’s real — but cooling and emptying out are two very different things, and confusing them has cost buyers real time they can’t get back.
If you’ve been sitting on the sidelines waiting for a headline to come true, let’s talk about what’s actually happening on the ground — starting with how much house you can actually afford right now.
— Glenn
Frequently Asked Questions
No. While headlines focus on people leaving, homes across Northeast LA are still closing, often with multiple offers, as move-up buyers, relocating professionals, and investors keep filling the gap.
Because it’s a more shareable story than “the market is normalizing.” People share posts about dramatic departures, not about the families who stayed in Highland Park or Eagle Rock and are doing just fine.
Move up buyers trading within the region, equity rich owners downsizing, and a large share of all cash buyers. Roughly 35 to 45% of LA transactions are closing without a loan. The buyer pool got smaller and wealthier, not empty.
No. Across Silver Lake and Echo Park the median sale price moved from $1,318,000 to $1,325,000 year over year on 404 closed sales. That is flat, not a crash. What changed is that overpriced listings now sit instead of selling.
Some are, and it makes headlines. What the headlines skip is who moves in and who trades up inside the region. Net migration is a different question from whether homes sell, and in Northeast LA the median home still sold in 17 days.
Waiting has cost most people money for a decade. Prices here are flat, not falling, and supply sits near 3.2 months, which still favors sellers. If you are waiting for a crash to time your entry, you are betting against every number on the board.
About Glenn Shelhamer
I’m Glenn Shelhamer, broker of The Shelhamer Group and founder of Silver Lake Blog. Over the last 15 years I’ve helped buyers and sellers navigate real estate throughout Los Angeles’s Eastside, from smooth transactions to complicated ones.
If the “everyone’s leaving” narrative has you waiting on the sidelines, I’m happy to show you what’s actually closing right now.
Call or text directly:
310-913-9477
Instagram:
@theshelhamergroup
Email:
glenn@shelhamergroup.com
