Real Estate News

California Housing Market: Prices | Trends | Forecasts 2022

The California housing market sizzled last year to break all records. It was a hot seller’s real estate market. According to Zillow, at the state level, California’s housing market remains the most valuable in the country, with a total value of $9.24 trillion as of last December, accounting for more than a fifth – 21.3 percent – of the national total.

However, California’s overall value growth of $1.38 trillion in 2021 represents only “20.1 percent” of the overall national growth of $6.9 trillion – somewhat “underperforming” by about -5.5 percent relative to its total weight, particularly given the extreme growth seen in other states. While January 2022 marked the first time since July 2020 that the state’s median price did not increase by double digits on an annual basis, the statewide median price is expected to edge higher in the coming months as the market enters the spring homebuying season. READ MORE…

Comments Off on California Housing Market: Prices | Trends | Forecasts 2022