California’s housing market to cool in second half of year, Realtor economists predict

Four consecutive months of statewide home-price records may be at an end as the California housing market shows signs of cooling.

The median house price for 2021 still will be up nearly 21% and sales will show an 8% jump over 2020 levels, thanks to the first half’s white-hot home-buying frenzy, California Association of Realtors economists said Wednesday, July 28. 

By year’s end, the 2021 median price of an existing single-family home is forecast to be $795,600, up 20.7% from the 2020 median. That’s a gain of $136,000 from last year – and a gain of almost $300,000 over the past five years, surpassing the pre-crash price run-up to 2007.

→ Continue reading at Silicon Valley

More from author

Related posts

Advertisment

Latest posts

Commerce platform ShopUp raises $75 million led by Valar in Bangladesh’s largest funding

ShopUp, a startup that is digitizing neighborhood stores in Bangladesh, has raised $75 million in a new financing round that is also the largest...

San Jose police investigating ‘suspicious’ death across from City Hall

San Jose police are investigating a suspicious death across in downtown. Officers were in the 200 block of E. Santa Clara Street. A KPIX...

Critter Corner: Sudden change can be unsettling for cats

Dear Critter Corner: I recently had my house remodeled, during which my cat disappeared into the closet for several days. He just now is...