Burbank's real estate market is experiencing a price correction, with values down 8.7% from last year. Home prices have decreased 68.7% in the past month. With 2.0 months of supply, Burbank's inventory levels remain relatively tight. Homes are taking about 56 days to sell, which is -32 days longer than this time last year. A significant 50.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Burbank market with the affordability index at 346.8. Based on current market indicators, home prices in Burbank are projected to increase by approximately 15.9% over the next month.