Are home prices expected to drop in California?
California’s median home price is forecast to decline 8.8 percent to $758,600 in 2023, following a projected 5.7 percent increase to $831,460 in 2022. Housing affordability* is expected to drop to 18 percent next year from a projected 19 percent in 2022.1 day ago
Are home prices dropping in California 2021?
California’s median home price is forecasted to rise 5.2 percent to $834,400 in 2022, following a projected 20.3 percent increase to $793,100 in 2021. Housing affordability is expected to drop to 23 percent next year from a projected 26 percent in 2021.
Is a bear market a good time to buy a house?
If housing prices are down because real estate is in a bear market, you could be in a great position to bargain shop for properties. Even when the economy falls into a recession, people still need housing which could enable you to collect a steady flow of rental income.