Tagged: California Association of Realtors

Lower mortgage rates and softer home prices improved affordability statewide, though most households remain priced out

Faster deal timelines and declining inventory highlight growing split in housing demand

In Q1 2025, 17% of Californians could afford a median-priced, single-family home

Only 18% of Californians could afford a median-priced home in 2024, with affordability gaps persisting across ethnic groups

Higher rates and home prices worsen California's long-term affordability challenges

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.