Where should young professionals live in Los Angeles?

The Los Angeles housing market currently has plenty of homes available, with nearly 20,000 active listings. Prices are a bit lower than last year, which could be good news if you're looking to buy. While I cannot tell you where to live, I can give you insights on the overall market. The typical home in Los Angeles is listed for $1,099,950. This price hasn't changed much from the prior month, but it's 7.0% lower than it was a year ago. This means homes are a little less expensive than they were. Right now, there are 19,232 homes for sale, which is about the same number as last year. However, fewer new homes are coming onto the market (9,166 new listings, down 2.9% from last year), which could make choices more limited for some. Homes are taking a bit longer to sell, staying on the market for 50 days on average. This is a little longer than last year, by about 6.4%. Also, 15.4% of homes have had their prices reduced. For young professionals, the slight dip in prices could be a good entry point. However, with homes taking longer to sell and fewer new listings appearing, it's important to be ready to act when you find something you like and to be patient in your search for the right home.