Home Prices Decreased Again: California Housing Market Update

Good news for homebuyers: home prices decreased in California. In fact, the median sold price hasn’t been this low since March 2021. In addition, pending home sales declined by double digits for the 4th consecutive month. This is according to a California housing market update from the California Association of Realtors (CAR).

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The California Association of Realtors (CAR) released August’s housing market stats yesterday. 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 3.19% 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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Disclaimer:
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.

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