October 2024 California Housing Market Update

In California, housing inventory is up from a year earlier but so are home sales. For example, 93% of the counties in the state have more homes for sale compared to a year ago and about half of California’s counties recorded an increase in sales (as of August 2024).
Also, pending home sales rose by 7.7% year-over-year in August and that was the biggest YOY gain since May 2021. Therefore, it appears that some homebuyers are taking advantage of the increase in housing inventory, lower competition amongst other buyers and significantly lower mortgage rates.
This is your latest California real estate market update based on a report from the California Association of Realtors (link below).
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Jason Walter, CPA (inactive CPA lic 103885)
Sacramento real estate agent and native (DRE 01923240)
Mortgage Loan Officer, NMLS 2566691
Revest Homes (DRE 02174879, NMLS 2362319)
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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video - it is for entertainment purposes only.
This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you. Thank you for your support! Jason Walter is a licensed real estate agent and mortgage loan originator with Revest Homes in California (DRE 02174879, NMLS 2362319).
For informational purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Equal housing lender.
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