Is the California Housing Market slowing down finally?! Are home prices in California going to increase in the next couple of months? In today’s video, I give you the latest update regarding the California real estate market: home prices, home sales, housing inventory and much much more!
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The California Association of Realtors (CAR) released June’s housing stats last week. They reported that the housing market appears to be moderating with home sales in CA decreasing for the 2nd month in a row. Home sales decreased 2.2% from May but were up 28.3% percent from a year ago. In addition, for the 4th month in a row the median sold price in CA increased to a new record high of $819,630. Will that be the last one this year??? Pending home sales have decreased for two months in a row.
In the Sacramento real estate market, the median home price rose to $525k, a 5% increase from May and a 26% surge from June 2020 in Sacramento California. Home sales in Sacramento CA increased 12% from May to June 2021.
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is 2.87% 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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