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California's housing market is cooling off faster than any other US state, even though it's still really costly to buy a home there

Business Insider LogoBusiness Insider2 mo ago

California's housing market is cooling off faster than any other US state, even though it's still really costly to buy a home there - Business Insider

Quick Summary:

As housing demand fades, several cities in California have seen home prices fall more than 5% from peak values earlier this year.

According to the stats, San Francisco, San Jose, San Diego, Los Angeles, Sacramento, and Oxnard (which is located near Ventura) have all seen home prices fall more than 5% from their peak values earlier this year.

And then there are also higher than average property taxes which further adds to the state's lack of affordable housing options — a predicament that has only worsened during the pandemic.

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Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-12-03 @ 13:00:00 (2 months ago)

News Timezone: GMT -5:00

Ranking: #707 (out of 5306 stories this day)

News Source URL: businessinsider.com

Language: English

Article Length: 765 words

Reading Time: 5 minutes read

Sentences: 49 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Insider

News ID: 2119332

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About Business Insider

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Main Topics: EconomyBusiness

Official Website: businessinsider.com

Update Frequency: 65 posts per day

Year Established: 2007

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #64

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The outlet is headquartered in United States and publishes an average of 65 news stories per day.

It's most recent story was published 8 hours ago.

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  • URL: https://beamstart.com/news/californias-housing-market-is-cooling-167007254671

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