Hi Yev, It depends on the location in L.A. and how much building there has been. Prices have not dropped and even gained in some areas, like the South Bay and the Westside. Rates took a dip last week which spurred buying which holds prices steady. Prices and interest rates are intertwined. Most anaylsts say there will be a steady leveling out in prices over the next year or so. It is my opinion we will never see the "bottoming" out that some are expecting. If you are planning to buy...the near future is the time...rates are expected to continue to decline...there is plenty to choose from in some areas and often you can buy at a discount.