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Home > Information > Market Snapshot
 
Light at the End of the Tunnel, but Recovery Will Take Time [06-10-2020]
The California housing market is showing signs of recovery in recent weeks. Home sales are expected to fall further in May, after declining with the fastest pace since December 2007 in April. However, consistent improvement in housing demand in the past few weeks suggests a solid bounce back in upcoming months. In fact, since bottoming out in early April, pending sales have improved by more than 100%.
 
COVID-19 Market Impact [03-31-2020]
The Coronavirus outbreak has generated a significant amount of uncertainty in financial markets and for the global economy. The range of potential impacts varies wildly from forecaster to forecaster, but it has become clear that this is unlike anything the U.S. has faced in modern history.
 
No Recession in 2020 but Don't Expect a Breakout Year [02-04-2020]
California home sales surged in the second half of 2019 as low interest rates gave the housing market a boost. With the average 30-year fixed-rate mortgage (FRM) dipping more than 100 basis points from the prior year for three consecutive months at the year-end, buyers became more motivated to get back in the market and lifted sales up.
 
The Down Payment Hurdle: Maybe Easier to Overcome Than You Think [11-22-2019]
The California housing market continues to be invigorated by low mortgage rates, which has led to a yearover-year increase in home sales for the second month in a row. At just over 400,000 sales in the month of September, the 5.8 percent year-over-year increase is the highest growth rate seen since March 2017.
 
A Glimpse of Hope as Sales Perk Up [09-04-2019]
California home prices continued to rise as the market approached the peak of its home buying season. After setting a record high in April 2019, the state median price inched up again and reached a new peak in May. A typical existing single-family home was sold at an all-time high of $611,190 in May in California, an increase of 1.7 percent from the same month of last year and an increase of 1.4 percent from the prior month.
 
A New Peak ... but Will Home Prices Continue to Rise? [07-16-2019]
California home prices continued to rise as the market approached the peak of its home buying season. After setting a record high in April 2019, the state median price inched up again and reached a new peak in May. A typical existing single-family home was sold at an all-time high of $611,190 in May in California, an increase of 1.7 percent from the same month of last year and an increase of 1.4 percent from the prior month.
 
Top 5 Reasons You Should Become a Homeowner [05-30-2019]
Buying a home is a complicated process. Even finding the right home can be difficult in California's inventory-constrained market. Once you do, there is the negotiation process, contracts, inspections, appraisals, financing, and myriad other issues that pop up along the way.
 
Goldilocks Housing Season - Good Time to Buy and Sell? [05-02-2019]
The housing market in California remained soft in March with sales dropping and prices leveling off at the end of the first quarter. Home sales have been declining on a year-over-year basis for 11 consecutive months and the average decrease over that time frame was 8.3 percent.
 
Tight Supply » Low Affordability » Outmigration [04-05-2019]
Outmigration continues to be a big concern for the California housing market. Caused by the state's housing affordability issue, outmigration has resulted in about 800,000 people leaving California since 2010.
 
Affordability Impedes Homeownership, But Still Plenty of Potential Buyers [03-13-2019]
The California Association of REALTORS¢ē recently released its Housing Affordability Index (HAI) for the 4th quarter of 2018. With a reading of 28, it showed that fewer Californians can now afford the median-priced home than could one year ago.
 
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Shannon Sung, License# 01290795, Realtor®
Coldwell Banker Best Realty
4130 W. Commonwealth Ave., Fullerton, California 92833
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