Southern California Home Prices Fall for a 6th Straight Month
Southern California home prices fell for a sixth-straight month in November, wiping out most of the price gains achieved during the first half of the year. The median price of a Southern California home – or the price at the midpoint of all sales — dropped to $690,000 in November, up a mere $10,000 from year-ago prices, according to new numbers from real estate data firm CoreLogic released Wednesday. Last month’s median price was down $70,000, or 9%, from the all-time high of $760,000 reached in April and May. READ MORE…
Housing Market for 2023
Housing Market Predictions For 2023: Home Prices Set To Fall For The First Time In A Decade
The steep collapse in home sales spurred by rising interest rates will continue into next year and lead to the housing market’s first yearly price decline in a decade, real estate brokerage Redfin reported Tuesday, and though the downturn may not rival the one spurred by the Great Recession, other expert predictions are calling for significant declines as high as 20%. READ MORE…