BAD News for the California Housing Market

The California housing market is in BIG trouble as virtually every metric shows a slowdown in the California real estate market. For example, the median sold price in the state has now declined by 11% over the past 5 months alone. In addition, prices only increased by 0.3% on a year over year basis in October and that’s the smallest year over year change in the median sold price for an October since October 2011. Meanwhile, housing supply in California surged by 61% compared to October 2021 yet pending home sales plunged by 51%. 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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Jason

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)
jason@meetjasonwalter.com

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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 with Realty One Group in California under DRE 01923240.

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