California housing-price increases simmer down

Broken down another way, the data show that the highest. A report analyzing sales data for June shows that Bay Area counties led the state in housing price increases. (Courtesy of California.

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SAN JOSE, Calif. (KGO) — In the Bay Area, homes are taking longer to sell and aren’t getting as much money as they did just a few months ago. After years on the up, the red-hot housing market.

Here in California, Southern California is seeing a large increase of inventory. And some of this inventory is coming in the form of new condos and homes.

. which has been blistering hot for several years now, might be simmering down.. Sure, not every housing market is experiencing an increase in homes for sale.. So, while the national average for days on the market has gone down by one, there. And what's happening in the housing market in California might be quite .

Although the median price of a California home in June reached the highest level since December 2007, up $5,000, or 1.3%, to $390,000, the pace of increase is finally starting to simmer down.

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41,700 new and resale home transactions closed escrow in California during July 2019. The number of homes sold was 2.5% higher than a year earlier, the first year-over-year increase this year. The long trend of falling year-over-year sales volume began in the second half of 2018. Currently, 2019 year-to-date (YTD) home sales are 6% below 2018.

Note: The MLS median price and sales data in the table below are generated from a survey of more than 90 associations of REALTORS throughout the state, and represent statistics of existing single-family detached homes only. sales data are not adjusted to account for seasonal factors that can influence home sales.

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movements of house prices, during which housing prices rise rapidly, growing. volatility, including search frictions, down-payment constraints, and loss aversion.. California) with above-average rates of expected future house price appreciation.4.. transactions in Cook County, Illinois, were inflated as buyers and sellers.

The simple analytics of the California housing market is that not nearly. budgets , as property tax revenue growth will significantly slow down.

The Southern California median home price was essentially flat in. A handful of experts have predicted values will come down slightly. And while home price growth has far outpaced wage growth over the current housing.

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