Should I buy new construction or resale in Los Angeles?

This question is tricky because the available data shows the overall market in Los Angeles, not specific details about new construction versus existing homes. It's important to understand the broader market trends when making a decision. Prices have seen some changes recently.The median listing price in Los Angeles right now is $1,050,000. This price is down by 4.3% from the previous month and down 4.5% compared to the same time last year.The number of homes for sale is about the same as last year, with 20,134 active listings. However, fewer new homes are coming on the market, down 2.6% over the past year, with 8,416 new listings.Homes are taking about 53 days to sell, which hasn't changed much from last year. Also, 16.6% of homes have had a price reduction, which is similar to last year.While this data doesn't directly compare new construction and resale, it shows a market where prices have recently softened. Consider these overall trends as you weigh your options for buying a home.