LA Housing Market: Most Homes for Sale Since 2018
By Armond Ohan, NMLS #540169
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By Armond Ohan • November 9, 2026 • 3 minute read
Thinking about buying or selling in Los Angeles? This week brought two pieces of good news for buyers: rates slipped again, and more homes are for sale than at any point in nearly eight years. Here is what that means for you, in plain English.
Mortgage Rates Dropped for the Third Week in a Row
The average 30 year fixed rate was 7.18% on Thursday, November 5, according to Freddie Mac. That is down from 7.24% the week before, and it is the third weekly drop in a row. A year ago the average was 6.22%, so rates are still higher than last fall.
What does that mean for your payment? On a $760,000 loan over 30 years, 7.18% works out to about $5,149 a month in principal and interest. At 7.24% the same loan costs about $5,179. That is about $31 a month back in your pocket from one week of movement. The next weekly number comes out this Thursday, and a new inflation report lands Tuesday, so rates could move either way.
More Homes for Sale in LA County
LA County had 15,558 homes for sale in October, according to Realtor.com. That is the most since November 2018, and about 10% more than October of last year.
Sellers are feeling it. 4,320 listings cut their price in October, which is about 1 in every 4 homes for sale. The typical home stayed on the market 57 days, the same as a year ago. The median list price was about $950,000, down from $995,000 last October.
What This Means If You Are Buying
You have more choices and more room to negotiate than you have had in years. Look closely at homes that have been listed for more than a month or that already cut their price. Those sellers are often open to paying some of your closing costs or helping buy down your rate. Get preapproved first so your offer is taken seriously and you know your exact monthly payment before you fall in love with a house.
What This Means If You Are Selling
You have more competition, so pricing right from day one matters more than ever. Instead of waiting and cutting later, think about offering a credit toward the buyer's rate or closing costs. Buyers shop by monthly payment, and a payment offer can make your home stand out from the thousands of other listings without lowering your price.
Did A Bank Say No To You?
If you are self employed, a bank may have told you that your tax returns do not show enough income. You may be able to qualify using your bank deposits instead. If you want to buy a rental, you may be able to qualify based on the rent the home brings in, not your personal income or tax returns. With more homes for sale, this is a good season for investors to shop. Bank said no? I say yes.
Common Questions
Is it a good time to buy a home in Los Angeles?
It depends on your budget and plans, but buyers have more choice right now. LA County had 15,558 homes for sale in October, the most since November 2018, and about 1 in 4 listings cut its price.
What is the average mortgage rate this week?
Freddie Mac reported an average 30 year fixed rate of 7.18% on November 5, 2026. That is the third weekly drop in a row. Your own rate depends on your credit, down payment and loan type.
Can I buy a rental property without using my tax returns?
Often, yes. Some investor loans qualify you based on the rent the property brings in instead of your personal income. Rates and down payments for these loans are different from a standard loan, so get your exact numbers first.
How do I get preapproved for a home loan?
Start at getmepreapproved.com. It takes a few minutes, it costs you nothing, and you will know your real price range and monthly payment before you make an offer.
The Bottom Line
Rates are easing and LA has more homes for sale than it has in years. Buyers have room to negotiate, and sellers who lead with a payment offer will stand out. Either way, know your numbers before you make a move.
Want to know exactly what you qualify for? Getting preapproved takes minutes and it costs you nothing. Start at getmepreapproved.com or call me directly at 626.823.8278.
Reply DEAL with your toughest file and I will tell you within 24 hours if we can close it.
Armond Ohan
The Giant Lender, Powered by 7 Mortgage
NMLS #540169
611 N Brand Blvd Ste 1300, Glendale, CA 91203
626.823.8278 • Armond@ohangrp.com • @thegiantlender
Sources: Freddie Mac PMMS, Nov 5, 2026; Realtor.com via FRED, LA County data for October 2026 (active listings, price reduced count, days on market, median list price). Payment math: $950,000 price, 20% down, $760,000 loan, 30 year fixed, principal and interest only, at 7.18% and 7.24%.
National averages shown. Your rate depends on your situation. This is not an offer of credit. All loans subject to qualification.