California’s Encouraging Real Estate Market?

The Spring homebuying season is forging ahead encouragingly! California median home prices set a new all-time high. Year-to-year home sales grew 1.6%.

“April’s rebound in both home sales and price shows the resilience of California’s housing market and is a signal that buyers and sellers are beginning to adjust to the higher interest rate environment.” (C.A.R. President Melanie Barker)

She went on to say that the market is once again showing signs of competition with homes selling faster and nearly half the homes selling are closing above the asking price-the highest in nine months.

The median home price in April of $904,210 was the 10th straight month of annual price increases in the state.

Housing inventory improved as well as exemplified by these two typical California cities:

San Diego: Apr.24- 3,364; Apr.23- 2,531 32.9% increase

Santa Clara: Apr.24- 1,162; Apr.23- 936 24.1% increase

With these statistics before Californians, it doesn’t appear that we have much to fear from a “crash.”

Best,

Ken & Ari Walker - Your Direct Private Money Source

Husband & Wife Team

Phone: 707-708-0797 / Office: 1400 N. Dutton Ave #22 Santa Rosa, CA 95401
Ken: CA DRE Broker #01858042 / NMLS #1221130
Ari: CA DRE #01858152 / NMLS #2170867

Bio: Ken & Ari are a husband & wife team with over 30 years of combined real estate and private money lending experience. They like working with buyers & borrowers, as well as directly with other licensed individuals who have clients in need of fast & alternative financing, and who can benefit from Private Money mortgages. (Qualify for our financing despite DTI ratios, credit score, property condition, difficult to prove income, etc. on purchases and refinances for owner occupied & investment properties.)