The California Housing Market Is Out of Control: New Report

Buying Real Estate
NEW Report: The California Housing Market Is Out of Control // An alarming report for the California real estate market was just published and many of these trends are jaw dropping. Will we see a California housing market crash or is the California real estate market skyrocketing? This is your latest housing market update. Hint: many records were broken.

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According to the California Association of Realtors (CAR) March’s statewide median home price set a record high of $758,990, up 8.6 percent from February and up a whopping 23.9 percent from March 2020. For the Sacramento housing market, home prices have increased 21% compared to a year ago.

Existing, single-family home sales were down 3.5 percent from February and up 19.7 percent from March 2020. This is primarily due to a lack of homes for sale because Active listings fell 51.1 percent in March from last year — the third consecutive month that listings declined more than 50 percent.

In real estate market news, houses are also selling very quickly… The median number of days it took to sell a California single-family home hit a record low of 8 days in March, down from 15 days in March 2020. This figure was one of the lowest ever recorded! Do you believe we are in a housing bubble? Comment below. The lack of homes for sale and record high home prices is diminishing the chances for a California real estate market crash this year. However, affordability is worsening.

To give you a mortgage update, mortgage interest rates have decreased so far in April (from about 3.45% down to just below 3.2%, according to the Mortgage News Daily.

Comment below: what’s your housing market 2021 forecast and housing market forecast 2021? Do you think a housing crash 2021 will happen and there will be a housing crash due to a housing bubble, a 2021 housing market crash 2021 or is your housing market predictions that the real estate market and home prices will continue to surge?

Mar 2021: California Real Estate Market report from the CA Association of Realtors:
https://www.car.org/aboutus/mediacenter/newsreleases/2021releases/mar2021sales

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***
Jason Walter, CPA (lic 103885)
Sacramento Realtor/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.

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#housingmarket #housingcrash #California

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