Housing Price Trends
Updated as the economy and situations change.
With the high price of housing and interest rates doubling since last year, fewer people are qualified to buy a home meaning there's less competition to buy your home. Prices are now dropping a little and homes are taking longer to sell. Many home sellers are retirees and are downsizing or relocating outside California while most people moving into California cannot afford to buy. This should keep rents high but will likely lower housing prices over the next year or two. Remember housing prices are relevant to inflation. That means if a house went up 3% in value at a time when inflation was 8% the truth is the house went down 5% in value!
Disclaimer about future predictions: Although this is compiled from my 25+ years’ industry experience, it is only my honest opinion. Its accuracy can't be guaranteed and should not be relied upon when making financial decisions.
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