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Commonly Asked Questions about California Real Estate

Although the buyer market is deteriorating, there are plenty of buyers with funds who can jump into the market for homes or rentals when mortgage rates ease. Although rent prices are falling in California, and likely will further in 2024, there is always a possibility of higher California rent prices.
California remains a docHub market for fix-and-flip investors due to the high demand for housing and strong property value appreciation.
Affordability depends on both the costs of the housing, as well as the income and/or wages of households. Annual household income needed to qualify for a mortgage on a mid-tier California home in June 2024 was about $239,000over 2 times the median California household income in 2022 ($95,500).
For many Americans, the dream of being able to purchase real estate in the state of California is out of docHub. California routinely ranks within the top five states as one of the most expensive locations to buy a home with extremely high mortgage rates; however, there are certain cities where buyers, with the right
The average California homeowner spends more than $2,399 a month on general homeownership costs, not including mortgage payments, ing to a new study. Photo courtesy Getty Images.
While the California real estate market is experiencing a major shift, its still one of the strongest, most attractive, and most dynamic in the country. Therefore, theres no shortage of good investment opportunities in this state.
Some experts dont expect home prices to decline in the near future unless theres a recession. Thats because while inventory is improving, its still low historically. Prices, however, should climb more slowly, giving incomes a chance to catch up.