Should I wait to buy a home in Los Angeles?

The decision to buy a home depends on your personal situation, but looking at the current market, prices are a bit lower than they were a year ago. The median listing price in Los Angeles is $1,099,950, which hasn't changed in the past month but is down 7.0% compared to a year ago. This suggests prices have softened. Homes are also staying on the market longer now, with the median home taking 50 days to sell. This is 6.4% longer than last year, giving you more time to make a decision without feeling rushed. Right now, fewer homes are coming onto the market. New listings are down by 2.9% compared to a year ago, meaning there isn't a huge influx of new options. If you're thinking about buying, the slight dip in prices and longer time homeowners are waiting could give you a bit more breathing room as you look for the right fit.