California Housing Market Headed in Right Direction

My Broker wrote a good article on CA real estate, thought I'd share: 

California Housing Market Headed in Right Direction

Jun 09, 2016

In April, California Association of Realtors released their 1st quarter California Housing Market Update citing a number of interesting updates.

C.A.R. President Pat “Ziggy” Zicarelli was quoted as saying:

“California’s housing market is moving in the right direction as we enter the spring home-buying season, but sales growth will likely be isolated in areas where inventory is more abundant and housing affordability is less of an issue.”

Taking a look at the the data C.A.R released, it’s interesting to note certain counties with sharp upticks in sales:

County April Median Sold Price March Median Sold Price MTM% Change Tehama $193,330 $175,000 81.8% Amador $307,890 $267,860 77.4% Plumas $231,250 $266,670 75.0% Tuolumne $239,710 $272,500 71.8% Napa $666,670 $664,470 70.9% Merced $189,500 $197,780 70.8% Santa Barbara $596,770 $729,170 63.8% Alameda $762,570 $712,990 61.5% Ventura $620,020 $610,820 61.3% Yolo $374,000 $387,930 59.6%

Of the top 10 counties in California with MTM% changes, we can see a nice spread of housing sold in potential up and coming areas. With Tehama, Amador, Plumas, and Tuolumne Counties all located in Northern California, it would seem affordable housing under $300k is becoming more abundant and selling well. We can also see affluent areas like Napa, Santa Barbara, Ventura, and Alameda all maintaining solid home sales in areas with much larger home prices and a steadier inventory.

Give us a call at (707) 523-2099 if you have anymore questions. 

Best, Forest – The Guy in the White Hat

Co-Owner and Hard Money Broker of family owned and operated Sun Pacific Mortgage & Real Estate, serving all of California with alternative financing since 1988!

707-523-2099.

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