The California Housing Market Is Headed MUCH Higher

As California's median home price hits a staggering 15-month high, a chilling 19% decrease in sales from last year has everyone calling for a housing crash. With buyers backing out left and right due to skyrocketing interest rates, 2024 offers a glimmer of hope with projections of lower mortgage rates and a pop in the number of home sales. Yet, amidst this financial turmoil, the looming student-loan restart threatens to drain a massive $100 billion from consumers and The FED is potentially calling for one more rate hike. What's the future look like for the California Housin Market in 2024?

🎙- The Educated Home Buyer Podcast - @TheEducatedHomebuyer

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Jeb Smith (huntington beach Realtor/orange county real estate)
DRE 01407449
Coldwell Banker Realty

#California #HousingMarket #RealEstate

[mikek]

It might go up a little but when it starts dropping aggressively people will start to panic.

[jayg]

Good that means one step closer to the bubble burst, so buy it at all time highs while you can suckers

[gundriver]

Rich or not why would someone pay 1.5 million for a 2 bedroom, 1 bath, and no garage house? They aren't going to find a renter to make this a cash positive venture. And the AirBNB bubble is the real 800 pound gorilla in the room that fans the flames for a major housing bust.

[StarrlaRo]

I dont believe folks are selling to move up...they have low inyersst loan they dont want to buy andd have a higher rate

[Docante]

Seeing mostly foreign buyers at the open houses

[brena]

California home owners are selling and then upgrading in California? And it’s Not rich people or foreign buyers buying these homes? I doubt that. There are a ton of people moving out of California - a lot of people following their adult children who can’t afford to buy here. And the median price in Orange County is $950, 000. Middle class can’t afford to live here anymore. But prices will stay high because inventory is very very low and cash buyers and corporations will still outbid and overpay - making house prices go up and the regular folk squeezed out of the market.

[Anayaleen]

This is so funny!! Don’t believe any of this home prices will go down Rates are going to increase..

[robmeis]

Love watching your videos Jeb. Long time watcher. I’m the one that retired and moved from Simi Valley to Fort Wayne. Keep up the great information Jeb!

[deannarogers]

I would like to sell my California home in summer 2024, would like to move out of the state. I hope I can get a buyer by that time.

[nrbaknrbak]

Did you hear from Warren Buffet when he invested in D.R Horton ? The ones that knows stay quiet and the ones that speak dont know.

[jdagreat]

California homes are so expensive not only that requirements are so none achievable its not even worth trying

[joshuar]

Hey boss I been following your videos. And no disrespect I'm wondering if you are making videos for click bait and for views. It's like 1 day you are like sell now. Then don't buy. To its crashing. Be nice if you did interviews with realtors to get a real source of what's happening in SoCal & etc. Maybe it's me. But I started watching you consistently like a month ago and now this is wild.

[russelltakemoto]

I bought a condo all cash in Irvine end of 2020. At the time I was debating whether to rent or buy. It goes without saying I’m really happy I bought instead of rented. My condo is now worth $190, 000 above what I purchased it for. If I rented I would have paid around $88, 000 in rent over the same period of time, for a similar condo. And what’s worse, I would have missed the past 3 years of appreciation. That’s a double whammy. It’s like I was paid to live in my condo. I’m thinking about selling soon and moving on. Irvine has for sure been a good investment either way.

[russelltakemoto]

I received cold call letter in the mail from a realtor with clients who want to buy in my area. Close to UCI, SNA. Letter said buyers are motivated and will pay above market. What??? Yes this happening in Irvine. They even included a QR code with buyers POF. Crazy. By the way this was the 2nd letter in a month.

[russelltakemoto]

I don’t think rates will come down at all in 2024. Maybe end of 2025 first rate cut by fed

[Liveinpeace]

I don’t believe anything the Realtor Association says..

[judylin]

If we can have a quick survey for current California residents to find out how many are planning to move to other states in the next year or two... You would be surprised.

[victorpham]

I already gave up on looking at houses since September. I will look again next year...

[stephenbaughman]

Layoffs coming. Inventory will rise. Prices must drop as a result. On RE agents are promoting the contrary.

[StarrlaRo]

Rich are buying up california. It is a very exclusive area to buy. Places that are thought to be undesirable in southern California will become desirable just due to limited supply. California will be San francisco with empty houses and they will just be used as a investment.