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Adding REALTOR next to your name is cool. During 2021, the statewide median price is projected to rise by a whopping 20.3%. However, it will only happen if inflation is kept under control. legal products and services. As a result, the market is likely to experience downward pressure on housing demand, which could potentially affect sales and inventory levels. Explore and interact with the latest market statistics. Slightly higher mortgage rates are expected in 2022. In 2022, foreclosures were down 34% compared to 2019, according to ATTOM Datas, Year-End 2022 U.S. Foreclosure Market Report. Be trendy -- stay current with our latest market forecasts and data analyses. The index is considered the most fundamental measure of housing well-being for homebuyers in the state. The Central Valley dropped the most of all regions at -43.3 percent. Though this is the 131st consecutive month of year-over-year price increasesa record streakthe increase was at a slower pace compared to December. revised California housing market predictions 2022 projects the number of existing single-family home sales to reach 380,630 units in 2022, a decrease from 416,810 units projected last October. San Diego + Carlsbad Housing Market Forecast for 2021 to 2022 - MetroDepth Year-over-year home price growth slowed in 2022 as mortgage rates rose sharply, resulting in worsening housing affordability. 's January 2023 resale housing report reveals significant year-over-year declines in both home sales and median prices throughout major regions of California. I believe that were likely to see low inventory continue to vex the housing market throughout 2023. , says Rick Sharga, executive vice president of market intelligence at ATTOM Data. In this video, we'll be taking a deep dive into the current state of the real estate market and provid. C.A.R. San Diego housing market forecasts predict that the median price point for the county could climb above $700,000 later this year. For a $760,000 house, the current median price in Southern California, that means a monthly mortgage payment in early January would've been $3,493, including property tax and insurance, with a. 5 San Diego Housing Predictions for 2023 | 2024 (New) Home sales prices responded by continuing their downward slide. The baseline scenario of C.A.R.s 2022 California Housing Market Forecast sees a decline in existing single-family home sales of 5.2 percent next year to reach 416,800 units, down from the projected 2021 sales figure of 439,800. In terms of home prices, the median home price in California fell to $751,330 in January 2023, down 3.0% from December 2022 and 1.9% from January 2022.