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[14]: 1 [15] In 2023, housing affordability in California reached a 16-year low, with only about 16% of homebuyers able to purchase a median-priced single-family home, as per data from the California Association of Realtors. In San Mateo and Santa Clara counties, buyers would require a minimum income of $504,400 and $451,200, respectively, to ...
GOBankingRates spoke with several real estate experts to find out what they think the 2023 housing market could look like. ... California. “The biggest issue in 2023 will be buyers who overpaid ...
In late October 2023, existing-home sales plummeted to the lowest level since 2010, when the world economy, and particularly the U.S. housing market, were struggling to pull out of the Great ...
“A crash happens with oversupply,” Yun says. “A 30 percent decrease will not happen, because there isn’t enough inventory.” He believes the housing supply will balance out within five years.
The U.S. Census Bureau found that if you took out housing costs, inflation at the end of 2023 would have been 1.8% instead of 3.2%. [7] ... or the California Bay Area
The data from the California Department of Finance show statewide housing production in 2022 increased 0.85%, the highest figure since 2008. That growth could eventually help combat the high cost ...
"If California had added 210,000 new housing units each year over the past three decades (as opposed to 120,000), [enough to keep California's housing prices no more than 80% higher than the median for the U.S. as a whole--the price differential which existed in 1980] population would be much greater than it is today.
And so far, in 2023, a combination of low inventory, high mortgage rates and inflation has continued to... Housing Market 2023: 4 Predictions for August, According to Experts Skip to main content