Houses for sale prices have declined in many areas of Los Angeles because of the severe change in lending standards, an increase in the amount of foreclosures and easily frightened buyers.
This decline has caused sellers stress because Los Angeles houses for sale are staying on the market 6 months or longer.
Although, inventory has increased with resales, short sales, foreclosures and new homes sales however, this gives buyers variety, but because of the housing market that existed before many of the loans that were created are gone.
The market is stabilizing, the buyers are at a stand still, fear of the unknown and then you have the avoidance of certain type of home sales, that will limit sellers the opportunities to sell their homes fast.
