Real estate market update: California home prices rise, new home sales increase, and investors face challenges.
TL;DR Summary
Homes in California are taking twice as long to sell compared to last year due to erratic mortgage rates, according to the California Association of Realtors. However, the median home price in the state increased by 7.6% in March, with the San Francisco Bay Area experiencing the fastest rise in home prices. Southern California's existing home sales appear to be bottoming out, with sales up 38% over February and prices up 3.4%.
Topics:business#california#home-prices#housing-market#real-estate#san-francisco-bay-area#southern-california
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