This is the reality, the market is stagnant across the country, and in LA. Of course there are pockets of brisker activity (Think South Pasadena, Silverlake), but everything is sitting on the market longer and price drops are the norm.
It's no surprise when you think about it. The prices shot up to unsustainable levels from 2018-2023. Then in 2024 the mortgage rates shot up along with post-COVID inflation. Then in 2025 the property insurance rates shot up. AI fears resulted in job insecurity and layoffs. More inflation. Wars raged into 2026 and companies continue to have layoffs. So here we are.
So what's the plan? Well Sellers need to be realistic that prices are not at the height. If you've made a profit, consider yourself lucky. Don't expect to make a profit if you've bought in the past 18-20 months. You'll be lucky to call it even.
Buyers should be buying up. There has never been a better time than since the GFC (Great Financial Crash) to buy properties in a non-multiple offer market, as well as a market in which there are price drops, and sellers are willing to do rate buydowns for buyers.
