When rates go up, normally, prices start barreling down. But prices haven't gone down much at all. This is because there's not as much housing available to go around. When you see areas that have some more price softening, you'll see that the areas have more housing inventory.
One thing is for sure, there are some deals to be had out there as the multiple offers are starting to go away, and price drops have increased and days on the market are also increasing about about 10 days compared to the same time last year.
Some interesting deals right now in DTLA based on Price/SF, rare corner, Mills Act, layout, etc:
Cornell Loft #704 - $465K - L-shaped layout, parking, massive windows, Mills Act
https://www.themls.com/mlslistingphoto/listing/slideshow/#/24-374153
Bartlett Loft #1304 - $465K - 14" ceilings, Mills Act, exposed brick, north facing
https://www.themls.com/mlslistingphoto/listing/slideshow/#/24-347225
Eckardt #504 - $489K - Parking, soaring ceilings, Mills Act
https://www.themls.com/mlslistingphoto/listing/slideshow/#/23-313901
Eckardt Loft #403 - $475K - Corner orientation parking, Mills Act
https://www.themls.com/mlslistingphoto/listing/slideshow/#/24-348103
Rowan Loft #816 - $550K - Rare corner with coveted park views, Mills Act
https://www.themls.com/mlslistingphoto/listing/slideshow/#/24-372451
Textile Loft #1002 - $595K - Parking, storage, corner orientation for stunning views, Mills Act
https://www.themls.com/mlslistingphoto/listing/slideshow/#/24-373185
EVO #402 - $599K - 2 bathrooms, luxury amenities, parking
https://www.themls.com/mlslistingphoto/listing/slideshow/#/24-375881
Eastern Columbia #307 - $810K - Massive 14' ceilings, coveted south facing, EV Charger, Mills Act
https://www.themls.com/mlslistingphoto/listing/slideshow/#/24-374437
Eastern Columbia #603 - $900K - Massive double unit, 2250sf, Mills Act, storage unit, parking
https://www.themls.com/mlslistingphoto/listing/slideshow/#/24-372451
