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California housing market the highest ever

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Looking for a house in California? One of the fasted and highest prices for houses is here in the Sunny state. Average price of a house in California is around $600,000 dollars and that is very high.



The demand level in the second half of the year, the house market should stabilize. But even then, no one is sure how the market will react.
A few years ago, California cities were popping up on rankings of the “hottest” housing markets in the country. But that was then, and this is now.

In 2019, a lot of real estate markets across the state have cooled considerably. Home-price appreciation has slowed, and even reversed in some cities. Price reductions are more common. And homes are sitting on the market longer.

Some forecasts for California real estate markets predict a continuation of these trends, going into 2020. For the first time in a long while, home buyers need to ask themselves some hard questions: “Is it a good time to buy a home in California? Or should I take a wait-and-see approach?” Is there carpet inside ? and what if i use Roomba robot vacuum for carpet cleaning ?

Let’s take a look at what is happening statewide, and then drill down to some of the metro-area real estate markets in California.

California Real Estate Market Cooling in 2019

According to a recent report from the California Association of REALTORS® (C.A.R.), home sales in the state “fell below the benchmark 400,000 level in June as sales declined from both the previous month and year.”

In July, the state’s Legislative Analyst’s Office pointed to this trend as well, noting that California home sales dropped in June 2019 compared to the same month last year.

“Nonetheless, sales remain relatively weak, but not as weak as is typically seen before economic downturns,” the report stated.

We can also see evidence of a cooling trend within the California housing market by looking at home prices. According to the latest data published by Zillow, the statewide median home value rose by just 1.3% over the past year or so. That is significantly less than the 5% – 6% annual gains of a few years ago.

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