NEW Report released: The California housing market is ALARMING. Home sales dropped by double digits BUT the median sold price reached a new all-time record high. In today’s California real estate market update, I share how each of the major regions fared along with county specific stats for August 2021.
Here’s part 1 of (my previous video): California Housing Market Just FLIPPED Again
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The California Association of Realtors (CAR) released August’s housing market stats the other day. They reported that the median sold price for single family homes in California reached a new record high of $827,940. By my calculation, this is the 10th record broken in the last 15 months AND the 5th record set in the last 6 months. Per CAR, “At the regional level, sales in three of the five major regions dipped from a year ago. The Far North region had the biggest year-over-year sales decline (-21.9 percent) in August, primarily due to the Dixie Fire.”
Nearly 75% of all counties tracked by CAR experienced a decrease in home sales from a year ago. Median sold prices in all major regions increased by double-digits.
In addition, after increasing for the past 6 straight months, housing inventory leveled off in August.
In the Sacramento real estate market, CAR reported that the median home price increased to $515,000, a 21.2% surge from August 2020 in Sacramento California. Home sales in Sacramento CA decreased 1.2% from August 2021.
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is 3.10% for the current mortgage rates. This is mixed news if you’re a homebuyer right now or if you’re a homeowner looking to refinance.
Comment below: what’s your housing market 2021 forecast and housing market forecast 2021? Do you think a housing crash 2021 will happen and there will be a housing crash due to a housing bubble, a 2021 housing market crash 2021 or are your housing market predictions that the real estate market 2021 and home prices 2021 will continue to surge?
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Jason Walter, CPA (lic 103885)
Sacramento Realtor/Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
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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.
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