According to new data, 43 out of California’s 51 counties recorded a year-over-year decrease in closed home sales in October. This aligns with typical seasonal trends in the housing market during the fall and winter months but also reflect pandemic impacts, a prolonged wildfire season and rising prices.
The California Association of Realtors reported this data last week and noted that 29 California counties experienced a decline greater than 10 percent. Mariposa county saw the biggest decline in home sales in October compared to last year with a drop of 52.9 percent.
Despite the recent decline, California’s housing market continued to maintain an overall healthy sales volume above pre-pandemic numbers.
Today, conforming no-point 30-year fixed mortgage rates are averaging 2.875 percent and 15-year rates are near 2.25 percent.
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