California Housing Market Report & Predictions 2021
California Housing Market
Prices of single family homes rose in August to a new all time high, even while sales slipped 3.3% compared to July. The average price of a California house rose 2.1% to $827,940 while the average condo price stayed level.
Economic conditions in California have improved as the pandemic numbers have eased. 60,000 unemployed people transitioned back to employed status. Yet, many more are coming off of the Federal stimulus supports which will have a temporary effect on the real estate and rental sectors.
CAR believes this is a cooling trend and will be with us for a while however, they still feel optimistic about the changes and that better news is ahead. Certainly a full recovery of the economy is still ahead in 2022. For this fall however, buyers keep asking if home prices will fall?
Ralene Nelson, REALTOR®
JUST SOLD – 2280 Hurley Way, Apt.40 Sacramento, CA
What a great opportunity to own this condo located in the sought-after Hurley Place gated community. Located close to Sac State, Arden Fair Mall, Cal Expo, & walking distance to dining, entertainment & shopping. The upstairs unit is nestled in a quiet gated community with mature, gorgeous, well-maintained grounds. Pool, dog park & clubhouse are included. This 2 bedrooms 2 bath condo has new paint & new carpet, inside laundry, so just bring your furniture and enjoy the relaxing scenery from your balcony. READ MORE
JUST SOLD – 130 Adrian Ct, Vacaville, CA
Well maintained court located home with no rear neighbors and many updates including: New HVAC and water heater in 2020, New dishwasher, vent hood, and range in 2019, New LVT flooring, an electric fireplace insert, and new fencing in 2018. READ MORE
REAL ESTATE NEWS & VIEWS
Why the U.S. Housing Market Might Be Better for Buyers in 2022
Recent reports have offered a glimmer of hope for buyers in the U.S. These reports have shown an increase in the number of houses for sale, along with a general cooling trend within the housing market. If these trends continue going forward, the real estate market could be better for homebuyers in 2022.
Real Estate Market Better for Home Buyers in 2022?
More inventory to choose from, a slower pace, and moderating price growth. Those are just three of the reasons why the housing market might be better for homebuyers in 2022.
How Inventory Growth Could Shift the Housing Market in 2022
Supply shortages have been the big real estate news story of the past year. Housing market inventory has hovered at record-low levels, partly due to a COVID-related surge in home buying activity.
But recent reports show an increase in the number of new listings hitting the real estate market.
If inventory growth continues over the coming months, it could shift the housing market later in 2022. We probably won’t see a classic buyer’s market anytime soon. But sustained inventory growth could make the real estate scene a bit more buyer-friendly in 2022.
Things To Do This Week-End
Seventy-Third Rio Vista Bass Festival
Fri, Oct 8 – Sun, Oct 10
The weekend of October 8 is going to be a busy one for families and fisher people during the 73nd Annual Rio Vista Bass Derby & Festival, with a full roster of activities. Friday the fun starts with entertainment, the carnival midway, food and fun. On Saturday, enjoy the Leos Club Pancake Breakfast before visiting the Car Show, the Bake Sale, and the Rummage Sale. If you and the kids aren’t too exhausted, there is an afternoon and evening of food, drinks, carnival rides, live music and even fireworks!
Sunday is when our hometown pride shows during the old-fashioned Bass Derby Parade, with the theme “Celebrating the Beauty of Rio Vista.” This year we highlight our local service organizations, school groups and others. Then it’s on to the afternoon of music, food and rides before the Derby Awards ceremony at 4 pm.
Pumpkin Patch Festival
Western Railway Museum – 5848 California 12, Suisun City, CA
At the Pumpkin Patch, you can purchase your pumpkins, as well as snacks, drinks and other homemade specialties. There are plenty of activities for the whole family at the pumpkin patch! All proceeds benefit the Western Railway Museum (a nonprofit educational institution) and the local Rotary Clubs who provide thousands of dollars to local community and youth activities each year.
- Adults – $20
- Seniors – $18
- Kids (2-14) – $15
- Adult Members – $8
- Child/senior members – $5
Barrels, Brews and Bites in Jamestown
Riverbank Wine & Cheese Exposition
October 9th – 10am-8pm thru October 10th – 10am-6pm
Cheese, Wine and Craft Beer Tasting on the Street and in the Tasting Area!
Taste wines while strolling the festival or experience our traditional tasting session each day for you to enjoy the widest variety of wine, cheese, and craft brews for one low price.
Not just cheese and wine. The Family Fun Zone will keep the whole family entertained for hours with a variety of carnival-style rides and activities.
Not just cheese and wine. Keep the whole family entertained compete in this year’s wine stomp.
Fiesta De Riverbank
Any festival in Riverbank would be incomplete without a celebration of the Hispanic culture. Enjoy live music, dancing horses, and more at the Riverbank Cheese, Wine, and Craft Beer Expo! READ MORE