A bit of hope for home-shoppers who have been dealing with fast-rising prices — and fast-moving homes — during the Covid pandemic.
‘We’re seeing many would-be buyers taking a break’ Estimated reading time: 3 minutes California’s red-hot housing market could be cooling off, or at least getting lukewarm. May home sales dipped 2.7% compared to April — but were up 87% from a year ago, though the figure is greatly skewed by the Covid-prompted lockdown that halted…
All seven regions posted record prices and reported at least a 38% increase in sales.
California home prices reached a record in March, as wanna-be buyers competed for fewer homes on the market and often paid more than the asking price.
California home prices increased by 20% for the second consecutive month in February, despite higher mortgage rates and fewer listings.
Home prices and sales soared more than 20%, as homebuyers continued to enjoy near-record-low mortgage rates.
With fewer existing homes available on the market, more home-shoppers are looking at new-home sales in the six-county region.
New law bans rent-related evictions until July, with landlords also benefiting from $2.6 billion program.
California home sales were the best since May 2009 and prices increased by double digits for the fifth straight month.
Home prices dipped to less than $700,000 for first time in three months, as demand easily outpaced the supply.