Biggest Increase in Home Sales since June 2021: California Housing Market Update

Some very interesting dynamics are happening right now in the California housing market based on a new report. After a significant decline in mortgage rates in September, mortgage rates rebounded and increased considerably in October. Despite this, closed home sales of existing single-family homes this November posted the biggest yearly gain since June 2021 (+19.5%).

We’re also seeing a significant increase in the amount of homes for sale in California. For the month of November, housing inventory increased by 27%. This is a deceleration from the previous month though.

I share these trends and much more including California’s pending home sales, price reductions, home sales and much more. 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:
   • Housing Market Predictions  

Source of reports I covered in the video:
https://www.car.org

https://fred.stlouisfed.org/graph/?g=... (mortgage rates per Freddie Mac)

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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)
[email protected]

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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.

#CaliforniaHomes #California #CaliforniaRealtor