Should I buy new construction or resale in Los Angeles?

There is no specific data here to tell you if new construction or resale is better for you. We can look at the overall Los Angeles market to help you decide. Prices have gone down a bit, and homes are taking longer to sell. The typical home in Los Angeles is listed at $1,100,000. This is 8.0% lower than a year ago, so prices have been dipping. There are 18,523 homes for sale right now, which is a small increase of 2.0% from last year. However, fewer homes are coming onto the market, with new listings down 4.2% from a year ago. This means there are slightly more options, but fewer brand-new choices each month. Homes are staying on the market for 47 days before going under contract. This is a bit longer than last year, up 4.4%. Also, 14.3% of homes have dropped their prices, showing sellers are making adjustments. Before you decide, think about what's most important to you in your new home and how much time you have. Then, look for homes that fit your needs and budget.