Are home prices going up or down in Los Angeles?

Home prices in Los Angeles are holding steady from last month, but they are lower than they were a year ago. The typical home is listed for $1,099,950 right now. That price hasn't changed compared to the previous month.Over the past year, however, the median listing price has dropped by 7.0%. This means homes are listed for considerably less than they were a year ago.The number of homes for sale, called active listings, has barely changed over the past year. There are 19,232 active listings, which is down just 0.9% from last year.It's taking a bit longer for homes to sell. The median days on market is 50 days, which is 6.4% longer than it was a year ago. This suggests buyers have a bit more time to make decisions.Currently, 15.4% of homes have had their prices reduced. That's a bit less than a year ago, when price reductions were 1.3% higher.If you're thinking of buying, these numbers suggest a market where prices are stable month-to-month but lower than last year, giving you a bit more breathing room.