Eye-Opening Report: The California Real Estate Market

Overall, home sales and home sold prices decreased in California but not for each county. In today’s California housing market update, I provide all the latest details at the county level because there were some very big differences. Some areas are still surging ahead while others are lagging behind.

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The California Association of Realtors (CAR) released August’s housing market stats. They reported that the median sold price for single family existing homes in California declined from $827,940 in August to $808,890 in September 2021.

Part of the reason for the decrease may be from a drop in luxury home sales, increasing inventory and seasonality.

In the Sacramento real estate market, CAR reported that the median home price decreased from $515k to $507k, a 1.6% month to month decrease in Sacramento California. Home sales in Sacramento CA increased 0.3% from August 2021.

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is 3.08% for the current mortgage rates. This is mixed news if you’re a homebuyer right now or if you’re a homeowner looking to refinance.

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 are your housing market predictions that the real estate market 2021 and home prices 2021 will continue to surge?

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Realty ONE Group Complete (DRE 01923240)

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Why Aren’t Home Prices Dropping? Housing Market 2020

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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.

This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you. Thank you for your support! Jason Walter is a licensed real estate agent with Realty One Group in California under DRE 01923240.

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  1. Part 1 of this video: CA Housing Market Update

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    Why Housing Inventory is LOW

    Homebuyer Alert: Should You Buy NOW or WAIT?

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    Options after Mortgage Loan Forbearances Ends

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  2. Can't sell a house in Monterey. House in a very good condition, everyone says it's priced reasonably. Have no idea what's going on. Lowered the price once already. Should I take it off the market and re-list in a month or lower the price more? Need to sell it within months.

  3. paid ad..fake news…bay area white hot real estate keeps getting hotter… hillsbourb, baligame, san bruno, sth sfo colma n onwards….1 property owner is a millionaire—multiple owners r multi-millionaire….from mexican gardener to chinese restaurant waiters…..neighbor sold $500,000.00 above list all cash offer…..in 4 days.

  4. Hi Jason, really enjoyed your videos as they are so well informed! Moved out of bay area in 2020 into Riverside where my parents are. We have a 5.5 bed 5 baths house on a hill here in Riverside for a bout 1.1m, which can only get me a 2-br townhome in the bay area if I am lucky. But… i still love the Bay Area especially for its scene, culture, and outdoor activities in general. Looking to buy in the Dublin area once the price levels out a bit, who knows when thou 😅

  5. if prices correct, I may pick up some land or a duplex for rental income as rents keep rising and people need place to live. My only concern on becoming a landlord is that if future covid mandates return it could wipe me out financially if a renter does not have to pay rent

  6. what does that tell you when the Median Home price goes up, yet sales go down? It means that there are less homes for sale and lots of buyers to move the median home price up. I thought that 2022 might be brought down in to the single digit (7%-8%) appreciation range in Southern California. Now, I am becoming more and more convinced that the Southern California home 'appreciation' will be in the double digits – close to 14% – 17%. This means that places like San Diego and LA might be seeing close to a $1,000,000 Median Home Value benchmark. Still way lower than San Fran, San Jose, Marin, etc…

  7. My primary residence is in California and planning on buying a second home (vacation home) in Las Vegas NV, what tax liability do I have in both states other than property taxes?

  8. I closely follow 7 SoCal cities…plus Henderson NV… don't ask :-). I've seen inventory evaporate quickly in the last 10 weeks or so. It's incredible. I know there's the seasonality at play, but dang it is sparse. I guess everyone who wanted to cash out their monster CA equity and move to a cheaper state already did? Great info as always.

  9. Any youtuber gives out weekly updates on real estate is doing to get rich of youtube….. We all know homes prices doesn't change weekly. Its not crypto…

  10. Maybe condo sales have increased in price because typically they are in gated communities and people want to keep the riffraff out of their neighborhoods that California is awarding to Taxpaying upstanding citizens

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