NEW Report: California Housing Market Update

Home prices in California fell to a 11-month low with homes selling below the seller’s asking price on average. However, home sales in California bounced back to a certain degree, rising year-over-year for the first time in the last 31 months. This gain is likely due to decreasing mortgage rates in November and December 2023 which caused an increase in homebuyer demand. Sales still remain muted though as they are at historical low levels despite the increase from the previous month and year.
I share these trends and much more including California’s pending home sales, price reductions, home sales and much more. This is your latest California real estate market update based on a new report from the California Association of Realtors that covers the month of January (link below).
Interested in buying or selling a home in the greater Sacramento area? Email me at: [e-mail]
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Compilation of Housing Market Forecast videos:
• Housing Market Predict...
Report I covered in the video:
www.car.org/en/aboutus/mediac...
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 7.1% for the current mortgage rates (at the time of filming this video for those with excellent credit).
Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?
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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 with Revest Homes in California under DRE 01923240.
#housingmarket #California #CaliforniaRealtor

[@JasonWalter1]

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[@MVDreports]

Hooray Jason is back and with a Cali Update!!!!!

[@JasonWalter1]

Sorry it's been a while!

[@agentcrypto7741]

Why do you still cover list to sale price? It’s highly manipulated and not reflective of what’s truly happening. Case in point when sellers don’t report concessions and listings that go on and off market constantly to game the system.

[@JungleBook805]

I don't know how anyone in our state can afford to buy

[@MVDreports]

Both spouses work, that’s for sure!

[@JasonWalter1]

Affordability is a big problem :/

[@Txguy998]

Only the Kardashians and professional sports players and actors can afford it. If you got a regular job you can afford a trailer

[@SamuelClemente7718]

​@MVDreports and the KIDS MOVE BACK IN Each helping out with the bills.

[@SamuelClemente7718]

​@@Txguy998 trailor park are starting to catch on. The risse thier parking rent by 400% . Up $1200 a month on space rent. CRAZY

[@wreckim]

Great, and detailed report Jason. Thank you.

[@crystalfuentes330]

Thank you Jason. I really look forward to this report. 😊

[@minimalist0000]

Thanks for the update Jason.

[@JasonWalter1]

My pleasure and thanks for watching!

[@vaajchang]

Thank you for this update for cali!

[@Anayaleen]

Homes prices were all increased But they have not sold at the increase price It feels like price manipulation. Home prices went up to millions to hopefully continue to sell at the 800,00 thousand price. Homes are over priced in California

[@MatoNoir]

YES! Jason's back! I missed your last video but it's good to see you back on my feed. Your insights are extremely helpful in breaking down what's going on within the market.

[@JasonWalter1]

Thank you for tuning in!

[@Steverz32]

Hey Jason! Glad you posted😊

[@oletreed4230]

Hi Steve. It's nice to see how excited you are for Jason

[@JasonWalter1]

Good morning, Steve! It's been a while since I made a video. I need more hours in the day :)

[@Steverz32]

@@JasonWalter1 you know if you post, I will post & like for the algorithm 👍

[@JasonWalter1]

@@Steverz32 I appreciate that.

[@Steverz32]

@@oletreed4230 he is my favorite KZbinr & we both live in Sacramento👍😊

[@drinajohnsonn]

Great video Jason !

[@JasonWalter1]

Thank you!

[@edcasseday8342]

I don't always like what you have to tell us, but I appreciate you keeping us informed without the hyperbole.

[@one-step-at-a-time-curiosity]

great video. thank you

[@JasonWalter1]

You bet

[@gordo5918]

Nice job thank you

[@JasonWalter1]

Thank you kindly!

[@jessicah3782]

I just bought a home in Sac 😃. It needs work but I love the location. I am a heat lover too lol. So no worries on that front either.

[@Steverz32]

I love living in Sacramento, 2 hours away from the ocean 🌊 & mountains ⛰️

[@JasonWalter1]

Congrats!

[@edhillerd3143]

Explain why if everyone is leaving Oakland n San Francisco cuss of the crime n drugs why are prices still high makes no sense.

[@magicmike1122]

People always have to live somewhere. There could be wars in the streets yet people will still need to live somewhere. My guess, corporations own the home and rent it to someone working in the area

[@u2fkeys665]

He's back!💪🔥

[@JasonWalter1]

Welcome back!

[@georgedoolittle7574]

I'm your Ice Cream man stop me when I'm passing by!

[@jackbelkada3864]

Thanks for the update, could you cover Temecula Murrieta, Manifee housing market update please?

[@CoorsLight23]

i luv Redfin data center! Great Cali update✌

[@JasonWalter1]

Thank you!

[@williamjohnson9815]

My house in coastal Carolina has hit a new high in value just like the stock market. Amazing how the two go together. Or is it?

[@Chew5219]

The only crash in real estate has been in commercial office space.

[@spk9434]

@jason - Bayarea real estate is going crazy. In Fremont houses built in 1960s are going for 1.7M, 250k to 300k over list price 😢 I was part of that frenzy but lost the bidding war. All the money from AI bubble(NVDA and other semis) is coming into real estate. Do you think AI boom/bubble will push prices ?

[@shaunaboo961]

Good morning Jason

[@JasonWalter1]

Good morning, Shauna!

[@meaganhale5238]

How has the luxury house tax affected luxury prices? I'm reading that more wealthy people are moving out of the state. Do you have any datat regarding this?

[@JasonWalter1]

Are you referring to the mansion tax in Los Angeles?

[@meaganhale5238]

@JasonWalter1 yes. I thought it was the whole state. Is it LA county or city? Is it permanent? When will you do another TX video? Thanks in advance from Austin! 🤘

[@JasonWalter1]

@@meaganhale5238 Los Angeles only. Not sure when my next Texas video will be. If I recall, the last few didn't perform very well so I'm not sure how much interest there is. Anyone else interested?

[@deanblanton-fh3gq]

I’m stuck In Califafelony and the new home prices are in another world. The builders are stuck on stupid with their high prices and crazy closing costs and the fed fixed interest rate. The smart money isn’t buying the inflated home prices. If one decides to buy a home will start the home upside down and owe thousands more than the property is worth. Sorta like the 2008-2010 era. Screwed!

[@lockup6104]

Mahalo 👍🏽🌴🤙🏽

[@JasonWalter1]

Aloha :)

[@lowkeygato2133]

Talk about the capital gains tax + ca state tax if you wish to sell! 😮

[@JasonWalter1]

How so? There's no state tax to sell a primary residence but you could end up paying capital gains taxes depending on the circumstances.

[@Patrick-yh5yd]

They were to high. Florida home prices still going up.

[@JasonWalter1]

I've read about home insurance rates going up dramatically in FL. I feel bad for those who are on a fixed income.

[@DearSX]

Most of the country basically decides not to build enough homes. $1 Trillion should be enough to build 5 million single family homes with a profit and get things back in check. Chump change for the country in the big scheme of things.

[@Steverz32]

1😊

[@JasonWalter1]

GM, Steve!

[@cvcfoundation8413]

Vids way too long, lots of useless data.

[@Chew5219]

The only crash in real estate has been in commercial office space.