L.A. listing prices slump again

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For the fourth week in a row, the median listing price of a home in greater L.A. fell, as inventory inched higher, according to Housing Tracker’s analysis of MLS listings, which we track here every week.

Median asking price dipped by $1,000, to $528,000 -- a decline of 7.4% over the past year. Inventory budged higher by 58 listings in the past week, and now stands at 44,541 -- up 3.0% over the past month, and 13.0% over the past year. Although inventory continues to build, it does appear that it is building at a slower rate, as the chart below illustrates.

Date Median Price Inventory
4/16 $545,000 35,489
5/14 $545,000 38,297
6/11 $540,000 40,766 (up 20.4% y/y)
7/16 $535,000 42,685 (up 14.5% y/y)
7/23 $535,000 43,225 (Up 14.5% y/y)
7/30 $530,000 43,676 (Up 14.0% y/y)
8/6 $529,900 43,989 (Up 14.1% y/y)
8/13 $529,000 44,483 (Up 13.6% y/y)
8/20 $528,000 44,451 (Up 13.0% y/y)

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Photo Credit: Reuters