This is part 2 of my two part video series for the California housing market. In today’s video, I share how nearly half of the counties in California recorded a decrease in home prices on a year over year basis in October. On top of that, 4 counties in California recorded a double digit decrease in the median sold price in October.
We’re also seeing a huge decrease in home sales in the California real estate market. All but one county tracked by the California Association of Realtors posted a decline in home sales compared to October 2021. This is remarkable given the fact that 92% of the counties posted an increase in housing inventory in October compared to a year ago.
This is your latest California real estate market update based on a brand new report from the California Association of Realtors (CAR).
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Compilation of Housing Market Forecast videos:
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 6.6% 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 (lic 103885)
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.
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 with Realty One Group in California under DRE 01923240.
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