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Home > Information > Market Snapshot
 
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.
 
2019 Market Outlook - Sales Soften, Prices Flatline [02-25-2019]
2018 was a lackluster year for the California housing market. While remaining above the 400,000 benchmark, home sales fell 5.2 percent to 402,750, the state's first decline in four years. Sales have been declining on a year-over-year basis for eight consecutive months since May 2018 and hit the lowest point in nearly four years with 372,260 units sold in December 2018.
 
Buyer Challenges to Entering the Housing Market [12-12-2018]
Buying a home is typically the biggest purchase of a lifetime. Hovering right below $600,000, the California median home price is near its all-time high, and housing affordability is moving towards its all-time low. In fact, only 27 percent of California households could afford to purchase a median-priced home in the third quarter of 2018.
 
Market Shifting... But, Don't Panic [11-09-2018]
Over the past 5 months, the evidence for a shift in the market has mounted. Sales are on the decline, with September 2018 falling by the largest margin since March of 2014. Homes are staying on the market longer as the median number of days on market has risen to 23. Sellers are beginning to have to discount their properties again, with a median sales-to-list price of 98.5% and 42% of active listings having some form of a price reduction.
 
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Shannon Sung, License# 01290795, Realtor®
Coldwell Banker Best Realty
4130 W. Commonwealth Ave., Fullerton, California 92833
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