Pt 2: Late-July California Housing Market Update by County

77% of the counties in California posted a decrease in home sales from a year ago, with 15 counties dropping by more than 20%. In contrast, according to the California Association of Realtors (CAR), “"Home prices continued to grow on a year-over-year basis throughout the state, with median sales prices in 43 counties rising from a year ago in June, an improvement from the 40 counties that recorded price gains in May."

This is your latest California real estate market update based on a new report from the California Association of Realtors (link below).

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Compilation of Housing Market Forecast videos:

Report I covered in the video:

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 7% for the current mortgage rates (at the time of filming this video for those with excellent credit).

Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?

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Jason Walter, CPA (inactive CPA lic 103885)
Sacramento real estate agent and native (DRE 01923240)
Mortgage Loan Officer, NMLS 2566691
Revest Homes (DRE 02174879, NMLS 2362319)

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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video - it is for entertainment purposes only.

This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you. Thank you for your support! Jason Walter is a licensed real estate agent and mortgage loan originator with Revest Homes in California (DRE 02174879, NMLS 2362319).

For informational purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Equal housing lender.

#housingmarket #California #CaliforniaRealtor

[spiritawaywithme]

Hi Jason, I've been watching you for years. I am closing my purhcase in Orange County this month. Part of me keeps fearing that I am entering at such high price point, but at the same time I want to move my child to a good school district. what a dilemma.

[Courtney-Alice-Gargani]

Good morning, Jason. Let’s see how long this keeps up. But the thing is like Orange County the prices still keep going up.

[gayleneflower]

Wow Jason....You have been doing this YouTube for a long time now! Congrats! Prices always go down towards the end of the year....Not unusual and getting back to normal!

[bryanbrown]

Neighbor in midtown Sac house has been on the market for two months. Still hasn’t sold. 900sf remodeled. Hardwood floors, nice yard. Hot tub included $650, 000

[CoorsLight]

i luv this data broken down by each county 👍

[ScottysAfortiori]

I should have bought 3 years ago "I bet alot agree" anyway Menifee is where I wanted to nestle in with my family due to great schools and neighborhood but the price is just getting unreasonably high, now I'm looking in places like Hemet/San Jacinto/Beaumont "20 min down the road" and considering completing a purchase I'm worried that the market hasn't reached it's cap and if I wait I'll be looking at condos with no yard, is it smart to wait or just run with it for a bigger house for the same price?

[TY-qned]

The inventory went up quite a bit in our area also in Sacramento area. I think prices will drop over the next 2 years or so as I assume lot of people holding not ready to sell but getting ready now. I will buy another home if it happens.

[ossgkur]

Great information! You do a great job!!!

[soundmation]

Anyone who lived through and was affected during the last GFC already knows what we’re in for. Sellers will be chasing this market all the way to the bottom with price cuts . Foreclosures are rising fast in major cities across the country. The trajectory is a long hard road downward from this point on.

[SidewaysInTraffic]

Thank you for the info. I'm in Sacramento County and were looking to buy. I've been holding off for 2 years on believing there's going to be another crash. At $2900 a month for rent, I should have just bought lol so I'm going to pull the trigger now.

[Kurplode]

Unemployment rising much above the FED’s target is the only thing that will cause CA’s market to fall.

[renelopez]

100k subscribers are just around the corner.
As we see, more distressing 5 subscriber base should increase.

[JBoya]

I wonder if some of this has to do with schools starting earlier in many counties. Ours start Aug 8. This shifts the home buying and closing season into April/May at the latest. Especially if you want to some refreshes before you move in. In my neighborhood sales were done by late April.

[puggychu]

Great info!
How does one go about to see the CA home sale chart? Is there a website anyone can go to see it?

[malanalan]

California real estate is known for boom and bust. Take your guess what's coming.

[davidmacgown]

Hi Jason, out of the following counties - Marin, San Francisco, San Mateo, Santa Clara, Los Angeles, Orange, and San Diego counties which ones (if any) are in a buyer's market for single family homes...particularly the luxury home market? thanks!

[calisunset]

Hello Jason,
We live in Bakersfield, do you think the turn key $700k pre owned homes will come down in price? By how much and how long will it take?

[gingersoto]

I live in the bay area in Alameda, specifically near Oakland. Going through a divorce and I need to get an appraisal. I’m actually looking for a lower appraisal because I am trying to keep my house throughout this divorce and buy out the other party. Is now a good time to appraise or will my house depreciate in the next month or two if I wait. Or even closer if I wait until winter???

[JAYY_JAYY]

I do not foresee any crash or major price reductions in my area of California.
I generally check homes prices in my zip and area frequently.
It’s just general curiosity for me .
I do not see many homes for sale . And when there is one it’s sold fairly quick .

I believe most are locked in at low rates therefore even if they wanted to move or sell financially it’s just doesn’t make sense .
When your housing cost is going to be significantly more if you buy or rent .

Even when divorce happen one party is going to try to hang onto the home due to it making financial sense .

Until there is more homes being built I do not foresee any drastic decrease in home values .

[codyedwards]

Interest rates will be coming down. Prices don't crash when rates go down. Follow the data, not the fear factory.