Estabilidad a pesar de los temores: El mercado se mantiene estable, evitando colapsos importantes como el de la Gran Depresión.Factores que enfrían el mercado: El aumento de las tasas hipotecarias y los temores de recesión han enfriado el mercado desde su punto máximo.
California home sales rose 3.6% in Early-Q3, reaching a five-month high due to lower interest rates. The statewide median home price in Early-Q3 was ~$887K, a 6.5% increase from Early-Q3 2023.
California is the most populous US state, with 68% of residents living in coastal areas. California’s cost of living is high, with a median home value of $573,200 and rent of $2,950.
New homes in California are 22% more expensive and 27% larger. Nationwide, new homes are 15% pricier and 16% larger than older homes.
Despite recent stagnation, the market shows potential for growth, especially if interest rates drop.Limited supply and high demand continue to drive prices, reducing the likelihood of a crash.