California’s median home price now sits at $798,440
California Realtors this week reported the closure of a single-family retailer in California that collected an annual total of 434,170 in October 2021.
The total annual sales figure represents the number of homes sold in 2021 when sales are adjusted in October this year. It is flexible with seasonal information that usually handles real estate.
October sales fell 0.9 percent month-on-month from 438,190 in September and fell 10.4 percent from the previous year when 484,510 homes were sold annually. Despite the decline in annual sales, home sales worldwide continued to grow at 13.4 percent year on year.
“As the real estate market moves from ‘crazy’ to ‘extreme’ and global inflation returns, fewer homes are selling above-average prices and prices. Cheaper is not uncommon, so many buyers pushed for this year’s stand will be able to make better use of it. .of cheap money, “he said. of CAR Otto Catrina of 2022. “With their low price of 30 percent less than a single-family home, condoms and cities are being sold only because it is a viable choice for consumers on a smaller budget.”
California home prices continued to rise as the market expanded all the time, falling below $ 800,000 marks for the first time in seven months. At $ 798,440 in October, the global price fell 1.3 percent from $ 888 and rose 12.3 percent from $ 370,330 recorded in October 2020. Long-term average -1.5 percent recorded between September and October 42 years ago.
“Despite the decline in sales since last year’s strong fall season, the California market remains stable and better than the number of booms seen in 2017, 2018, and 2019,” CAR said. Vice President and Chief Economist Jordan Levine said. “The decline in purchasing power indicates that the market is returning to normal and the market is expected to improve in the coming months. And it is expected to resume before the end of the year.”
Key points from C.A.R.’s October 2021 report include:
• Regionally, annual sales in the five recorded provinces were in October, while sales declined in three provinces. Forest fires continued to wreak havoc on the Northeast market situation, with sales in the region falling 23.4% year on year. This is further reduced, as recovery from forest fires can take months or years. The second-largest sale took place on the central coast, where it fell 13.8% year-on-year in all municipalities in the region. Sales in Southern California fell to second place in October, with Orange, Riverside, and San Bernardino counties falling 10% or more. Central Valley (-9.1%) and the San Francisco Bay Area (-7.3%) also saw lower sales from a year ago, but the decline was small compared to other provinces.
• More than four of the five ingredients – 43/51 – have been evaluated by C.A.R. annual sales fell in October, down more than 10 percent in 29 states. Mariposa sales fell sharply to -52.9% year-on-year. Next come Pluma (-50.7%) and Tehama (-48.2%). Two of these areas were threatened by forest fires in late summer, which affected the demand for housing. In the United States, annual sales fell to an average of -19.4% in October. In seven counties, annual sales increased from the ten counties in September. Lassen (50.7%) had the most sales since last year, followed by Yuba (28.9%) and Madera (20.2%).
• Almost every state in California has experienced annual inflation, including the C.A.R. Of the 51 states surveyed, 49 were up from the previous year. Their top ten have increased by more than 10 percent since October of last year. The largest increases were recorded in the regions, at 30.4 percent, followed by San Mateo (25.6 percent), Plumas (22.1 percent), and Sutter (22.1 percent). Santa Barbara and Mono were the only two states with a drop of 19.3% and 0.5% from October of last year. In eight states, new prices were recorded in October, up from seven last month.
• Market competition continued in October, but temperatures were lower than in previous months. Although global selling and lending rates remained above 100% in October, they fell for eight months. About two-thirds of homes (60.2%) are still selling for more than the price set in a recent monthly report, but low as of February 2021.
• The California Unlisted Equities (UII) index fell monthly for the first time in four months, up 18.3% from a year ago. The IUII in October is 1.8 months in October and 2.0 months in October 2020. The index shows the number of months the home delivery has been sold in the market at the current average price.
• The number of closed days for home sales in California increased from September 10 to October 10, 2020, to October 11, 2020. Growth started in two years.
• Automatique. Nationally, 101.5% in October 2021 and 100.2% in October 2020.
• The national average price per square meter of an existing single-family house continues to increase. The price of the four-wheeled vehicle was $ 389 in October, down from $ 326 in October.
• According to Freddie Mac, the 30-year interest rate rose 3.07% in October from 2.83% in October 2020. Five years ago, the fixed interest rate averaged 2.54 % and in October 2020 it will be 2.89%.