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Home > Information > Market Snapshot
Can We Call It a Bubble? [05-07-2021]
California just set a new record for home prices, rising by almost 25% from the same time last year to a median of almost $760,000. Does that mean that the market is in another bubble? Price growth has certainly accelerated as 9 months of rebounding home sales has taken a tremendous toll on housing inventory. However, much of the increase in home prices can be explained by 3 factors: inflation, falling interest rates, and income growth.
2021 Housing Market Outlook [02-24-2021]
The housing market ended 2020 on a strong note as sales reached the highest level in 15 years and the statewide median price set another new record. After experiencing one of the sharpest declines in years in the second quarter of 2020, California home sales bounced back with a year-over-year gain of nearly 20 percent in the second half of 2020, and the state housing market pulled off an annual growth rate of 3.5 percent. Despite the pandemic and two lockdowns, the housing market remains a rare bright spot in a struggling economy that is slowly recovering.
Fierce Competition Continues in CA Housing Market [12-28-2020]
The California housing market is red hot as the year comes to an end. The state has already recovered all the sales it lost in the first half of the year as insatiable housing demand in recent months has propelled sales to levels not seen in the past 15 years.
Pandemic changes California homebuying behavior, fuels market competition, C.A.R. survey finds [12-09-2020]
A renewed interest in homeownership during the COVID-19 pandemic has changed homebuyers' housing choices, widened the imbalance between housing supply and demand in California and created a more competitive housing market than ever before, according to the CALIFORNIA ASSOCIATION OF REALTORS¢ē (C.A.R.) 2020 Annual Housing Market Survey.
2020-2021 Housing Market Outlook [10-27-2020]
The housing market is a rare bright spot in an economy that is slowly recovering. Despite a poor performance in the first half of the year, home sales bounced back from a dismal second quarter with a quarterly increase of 62.7 percent in the third quarter, as the number of existing single-family home sales reached the highest level recorded in over 10 years.
Why an Economic Downturn Can Also Be a Good Time to Buy & Sell a Home [07-31-2020]
Conventional wisdom would suggest that making one of the biggest financial decisions of your entire life is something best done outside of a global pandemic and consequent economic recession. Uncertainty is elevated, people are losing jobs, financial markets are volatile, and businesses face difficulty remaining afloat.
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.
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Shannon Sung, License# 01290795, Realtor®
Coldwell Banker Best Realty
4130 W. Commonwealth Ave., Fullerton, California 92833
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