Check this out! 80% of all the counties that are tracked by the California Association of Realtors (CAR) have experienced a decline in their median sold price from one year ago (representing 41 of the 51 counties in California). This is part 3 of my 3 part video series I make each month. In today’s video, I share an update for the California real estate market at the county level because there’s some big differences. For example, 4 out of every 5 California county that are tracked by the California Association of Realtors (CAR) have reported negative price growth from a year ago! Additionally, all of the counties tracked by CAR posted sales declines on a year-over-year basis by double-digits. The California housing market is slowing down big time given the fact that average 30yr mortgage rates has nearly doubled over the past 12 months this January.
This is your latest California real estate market update based on a new report from the California Association of Realtors (CAR).
Video I mentioned about the declines in home sold prices from last year’s peak by region and county in California:
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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 6.8% 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.
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