June 2024 California Housing Market Update
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- Опубліковано 3 чер 2024
- Good news for homebuyers in California: 96% of California’s counties have more homes for sale now compared to a year ago. This is due to a rise in the number of new listings and a historically low level of home sales. The bad news for homebuyers is that 15% of the counties tracked by the California Association of Realtors are sitting at record high home prices.
I share these trends and much more for each of the counties in California that the California Association of Realtors (CAR) tracks. This is your latest California real estate market update based on a new report from the CAR (link below).
In case you missed it, here’s my previous video about what’s happening in the California housing market at the statewide level (today’s video is about how each of the counties fared): • Records Broken: Califo...
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Compilation of Housing Market Forecast videos:
• Housing Market Predict...
Report I covered in the video:
www.car.org/en/aboutus/mediac...
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 7.1% for the current mortgage rates (at the time of filming this video for those with excellent credit).
Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?
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Jason Walter, CPA (inactive CPA lic 103885)
Sacramento real estate agent and native (DRE 01923240)
Mortgage Loan Officer, NMLS 2566691
Revest Homes (DRE 02174879, NMLS 2362319)
jason@meetjasonwalter.com
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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video - it is for entertainment purposes only.
This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you. Thank you for your support! Jason Walter is a licensed real estate agent and mortgage loan originator with Revest Homes in California (DRE 02174879, NMLS 2362319).
#housingmarket #California #CaliforniaRealtor
Sales are decreasing below $500,000 because the price of inventory is mostly above $500,000. You can't find much below that #.
People moving back after leaving for Texas. The Austin market is tanking.
A 1,021 sq ft home sold for 110,000 in 2022. In 2024, they relisted for 399,000! What the actual heck. All decent homes are so far out of reach now that it's ridiculous. It needs to stop.
idk.. i just got outbid for a mobile home.. i dont think cali will see a crash like other states
over priced fixers, owners who have never done one update in years. It cost a fortune now to do any renovation. Thanks to Bidumbnomics
completely artificial price bubble by regulatorily restricting supply by making it nearly impossible to build a home. In my county the average wait time for a building permit is 16months, a remodel permit is 11 months, and those permits are 25-50K$
Just when you think California can't get more California, it out-Californias itself.
This is going to be a blood bath worse than 2008.
California is crazy , bidding war going on. A home got sold 400k over asking g for 2.7 million ( 5 bedroom 3000 sq ) prime area . Inventory in the Bay Area is depressing , nothing much to sell . Prices are going up crazy and bidding war everywhere. It’s a whole new world .
Not sure about a crash but I will say that there is no hurry to rush in right now. Build your credit, savings, reserves and wait until the right time for you. Don't buy into FOMO.
Before I even watch, I know the cliffs:
Riverside County setting records with prices because of cities like Eastvale,Norco and Corona.Houses around that area have prices around 800k to 1M plus.
Nothing says “the housing market is local” like California. How many places can you get +25 and -10 within a few hundred miles of one another? Thank you for the video Jason!
Great update on the California housing market! It's crucial to stay informed with these market trends :-)
Thanks for the update 👍
Thank you Jason, brilliant analysis
Construction is slowing down. I’m an equipment operator and I work from Bakersfield to the Oregon border and usually by this time of year there isn’t anyone on the out of work list at the union halls but there are a lot of people on the out of work list right now. Not a good sign.
Where can I find a link to this power point I loved your video and subscribed. I wanted to include this information into my listing presentation to keep my sellers informed
We are in Fullerton, last month house was sold $150k above asking price..
Who is buying majority of residentials? First time buying or Redfin, Zillow’, etc….