Is Los Angeles inventory rising or falling?

Inventory in Los Angeles is falling, with fewer homes available compared to last year. This means there are fewer choices for people looking to buy a home right now. There are currently 19,865 active listings, which is a small drop of 1.5% from last year. This small decrease indicates a tighter market. Fewer new homes are coming onto the market as well. We've seen 8,596 new listings, a decrease of 2.8% compared to last year. This trend contributes to the overall lower inventory. The number of homes under contract, or pending listings, is 7,072. The pending ratio is 0.36, which is down 0.1% from last year. This suggests that while fewer homes are being listed, the pace of homes going off the market is also a bit slower. If you're looking to buy in Los Angeles, be prepared for fewer options and potentially quicker decisions due to the limited inventory.