Welcome to today’s real estate news! We have two exciting stories to share with you. First, we explore the question on everyone’s mind: Is the housing market going to crash? While property prices continue to rise and mortgage rates reach new highs, experts believe that a significant crash like the one experienced during the Great Recession is unlikely. Factors such as strong homeowner balance sheets, cautious construction pace, and a shortage of homes for sale contribute to a more stable market. To gain a better understanding of the current state of the housing market and delve deeper into this topic, click here.
In our second story, we turn our attention to California’s housing market, which is showing signs of rebounding. Home sales and inventory have experienced a strong increase at the beginning of this year. In January alone, the number of homes sold statewide jumped by 14.4% compared to the previous month, marking the highest level of activity in six months. Additionally, new homes listed for sale increased for the first time in 19 months. This positive growth is attributed to the drop in mortgage rates. Sales in all major regions of the state rose on a year-over-year basis, and median home prices also saw an increase. To learn more about the current state of California’s housing market and its rebound, click here.
Is The Housing Market Going To Crash? | Bankrate
With property prices continuing to rise and mortgage rates reaching their highest levels in years, many are wondering if the housing market is on the verge of a crash. However, experts agree that while prices may fall, a significant crash like the one experienced during the Great Recession is unlikely. Factors such as strong homeowner balance sheets, cautious construction pace by builders, and a shortage of homes for sale contribute to a more stable market. Although affordability remains a challenge, the correction is expected to be modest. To delve deeper into this topic and gain a better understanding of the current state of the housing market, click here.
California sees housing inventory jump double-digits for the first time in 19 months – Palo Alto Online
California’s housing market is showing signs of rebounding as home sales and inventory experienced a strong increase at the beginning of this year. In January, the number of homes sold statewide jumped by 14.4% compared to the previous month, marking the highest level of activity in six months. Additionally, new homes listed for sale increased for the first time in 19 months. The positive growth is attributed to the drop in mortgage rates at the end of 2023. Sales in all major regions of the state rose on a year-over-year basis, and median home prices also saw an increase. To learn more about the current state of California’s housing market and its rebound, click here.