Sales Are Down 9% in LA but Prices Aren't Falling. Here's Why Both Are True
By Diana L. Marquez, Real Estate Agent | CA DRE #01418705 | eXp Realty of Southern California, Inc.
Field notes
If you’ve seen a headline saying home sales are down while home prices are holding steady, it can sound contradictory. It isn’t. The two numbers measure different things: how many homes are selling, and the prices paid for the homes that do sell.
There’s also an important geography detail behind this headline. The 9.1% sales decline is for Southern California, not Los Angeles County alone. In the California Association of REALTORS® (C.A.R.) report published October 19, 2026, sales of existing single-family homes were down 9.1% year over year across Southern California in September. The report showed sales down 8.0% in the Los Angeles metro area and 10.9% in Los Angeles County.
For LA County, the September median price was $994,670, up 1.2% compared with September 2025. So the title captures the broad pattern, but the precise sales figure depends on which area you mean. Here’s how to read this LA housing market update, and what it may mean for buyers and sellers considering LA home prices in November 2026.
What the numbers say
C.A.R.’s September report, released October 19, gives us a useful snapshot:
- Southern California sales: down 9.1% year over year
- Los Angeles metro sales: down 8.0% year over year
- Los Angeles County sales: down 10.9% year over year
- Los Angeles County median price: $994,670, up 1.2% year over year
- Los Angeles County inventory: 4.0 months of supply
- LA County median time on market: 30 days
These figures describe existing single-family detached homes, and the county’s sales comparison is not adjusted for seasonal changes. A median is the midpoint of sale prices, not a price estimate for every home. It can move as the mix of homes sold changes, even when the value of an individual property has not changed.
The regional sales decline, then, does not mean every LA home is losing value. It tells us that fewer transactions closed than a year earlier, while the county median price remained slightly higher.
Why fewer sales don’t automatically mean lower prices
A home sale usually requires both a willing seller and a buyer who can make the numbers work. When mortgage payments feel out of reach, some buyers pause, adjust their budget, or decide to rent longer. That can reduce the number of completed sales.
For context, Freddie Mac’s weekly survey reported an average 30-year fixed mortgage rate of 7.24% on October 29, 2026. Zillow’s national average purchase-rate figure was 7.10% on November 2. These are different measures and shouldn’t be treated as a quote for any one borrower. A buyer’s actual rate and payment depend on their financial profile, loan type, down payment, lender, and other factors.
At rates around 7%, a small change in price can still leave a buyer with a substantial monthly payment. Some households may decide to wait, which means fewer potential buyers are actively making offers.
At the same time, many homeowners who bought or refinanced when rates were lower may be reluctant to sell and take on a new mortgage at today’s rate. That can limit the number of homes coming onto the market. When fewer buyers are shopping but the supply of homes is also constrained, sales can slow without triggering a broad price drop.
The local data offers a clue. C.A.R. reported 4.0 months of inventory in Los Angeles County for September 2026. That is close to what is often described as a balanced market: there are options for buyers, but not an overwhelming supply that clearly gives one side the advantage. Homes took a median of 30 days to sell in the county that month, according to the same report. Well-positioned homes can still attract buyers, while others may need more time or a thoughtful adjustment.
What this means for buyers
A slower market may give buyers more room to review options and negotiate than they would have in a fast, highly competitive market. That doesn’t mean every seller will accept a lower offer, or that a future price correction is guaranteed. The September figures do not support assuming that LA prices are broadly falling.
Instead, focus on the specific home and the full cost of buying it. Compare recent nearby sales, consider the home’s condition and time on market, and discuss whether an offer should include a request for credits or other terms. A credit, if agreed to and permitted by the loan program, may help with eligible closing costs. It’s important to ask your lender how any proposed terms affect your financing.
Look closely at the monthly payment, not just the asking price. Mortgage rates are a moving market snapshot, not a promise about where rates are headed. The October 29 Freddie Mac survey and November 2 Zillow average are useful context, but election week and the upcoming jobs report may affect market conditions. No one can reliably promise that rates will move in a particular direction.
If a home fits your needs and finances, a well-supported offer can be built around the property’s details and your priorities. You can take time to understand the trade-offs before deciding.
What this means for sellers
Fewer completed sales mean a smaller pool of active buyers than a year ago. That makes pricing, presentation, and clear communication especially important. The goal is not to assume that every home will sell quickly or at the same price as a neighbor’s. It is to understand what buyers are responding to in your home’s area and price range.
A thoughtful pricing plan starts with comparable recent sales, current competition, condition, and timing. When the market calls for a change, explain the updated price clearly and connect it to the home’s value and the buyer’s monthly-payment considerations. “Newly adjusted” can describe an update, but it should never obscure the actual asking price or why it changed.
Be prepared for a longer decision period. Buyers may take time to compare homes, review financing, and weigh their options. Strong preparation and a responsive approach can make that process more manageable, while leaving room to evaluate offers carefully.
A steadier way to read the market
The September 2026 numbers show that sales activity and prices can move differently. Higher borrowing costs and affordability concerns can thin the buyer pool. Limited supply and homeowners’ reluctance to give up lower-rate mortgages can help support prices. Neither force tells the whole story on its own.
For buyers, the practical opportunity is to negotiate thoughtfully and evaluate a home’s full cost rather than wait for a market-wide price decline that the current data does not establish. For sellers, it is to price with local evidence, present the home clearly, and plan for buyers who may need more time.
I am Diana Marquez, and I approach real estate with patience, transparency, and a personalized plan. I help buyers and sellers understand the numbers in plain language, consider their options, and move forward at a pace that feels informed, not pressured. You can learn more about my approach or connect with me with a question about your situation.
Sources: C.A.R. September 2026 home sales and price report; Freddie Mac’s October 29 mortgage-rate release; Zillow mortgage rates.
This article is for general educational purposes only and is not financial, tax, legal, or lending advice. Market data describes past activity and does not guarantee future results. Speak with qualified professionals about your individual circumstances.
Diana L. Marquez | CA DRE #01418705 | eXp Realty of Southern California, Inc. — DRE #02187306