The California Housing Market is Eye-Opening: NEW Report

“High mortgage rates continue to hamper California home sales,” according to a new report from the California Association of Realtors (CAR). Home sales fell greatly in the last half of 2022 and have stayed at very low levels ever since then. In contrast, California’s median sale price in June 2024 was just below the record high that was set in the previous month.

I share these trends and much more including California’s pending home sales, price reductions, home sales and much more. This is your latest California real estate market update based on a new report from the California Association of Realtors (link below).

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Compilation of Housing Market Forecast videos:
https://youtube.com/playlist?list=PLiQQpOejscIcBF1Jw2zG6Uvg7qDav_oGi

Report I covered in the video:
https://www.car.org/en/aboutus/mediacenter/newsreleases/2024-News-Releases/june2024sales

https://fred.stlouisfed.org/graph/?g=NUh#0

https://altosresearch.com/

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 7% 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)
[email protected]

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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).

For informational purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Equal housing lender.

#housingmarket #California #CaliforniaRealtor