Are there a lot of new construction homes in Los Angeles?

There is no data on new construction homes specifically, but we can look at the overall supply of homes. The number of homes for sale in Los Angeles has gone up a bit over the last year, which gives buyers more choices. Right now, there are 18,523 homes actively listed for sale. This is a 2% increase compared to last year. More homes on the market generally means more options for people looking to buy. However, the number of brand-new homes coming onto the market recently has actually gone down. There were 8,804 new listings last month, which is 4.2% fewer than the same time last year. This suggests that while there are more total homes available, fewer new ones are being added each month. The homes that are for sale are also taking a bit longer to find a buyer. The median home has been on the market for 47 days, which is 4.4% longer than last year. This could indicate that buyers are taking their time with their decisions. As a buyer, having more homes to choose from and homes staying on the market longer means you might have more negotiating power and time to find the right place. Be sure to explore all your options and consider working with a local real estate agent to help you navigate the market.