After months of lockdown and economic turmoil for millions, experts say the California real estate market is improving—slowly! According to the California Association of Realtors June report, pending sales and new listings up from mid-April, with anticipated growth to continue. Additionally, buyers appear to be less skittish about making home purchases, when compared to polling from March and April. One of the biggest takeaways from the report: the Association asserts this is not the 2008 market crash all over again. As jobless claims lessen and consumer confidence rise, pending sales are slowly rising. Stable through the COVID crisis have been listing prices, with SoCal’s median list price at $405K, and the Bay Area’s media list price at $553K.
(Source: California Association of Realtors)