Slower Home Price Gains Ease Affordability In California
CAR expects home prices to soften as inventory rises and competition cools
CAR expects home prices to soften as inventory rises and competition cools
The California Association of Realtors reports that the median home price rose 7.7% year-over-year.
Persistent high interest rates and scarce inventory lead to steep decline in affordability.
Median home price retreats for the sixth straight month.
Real estate agents and lenders call an “emergency meeting” over a proposed legislation that would add up to a 25% capital gains tax on homes resold in less than 7 years.
'A stable and prosperous state cannot just have homes priced for software engineers and the already wealthy.'