What’s Going on in California?

California’s housing market is flashing major warning signs heading into the next 12 months. Inventory is skyrocketing — listings in places like Los Angeles are near 10-year highs. This surge in supply is now starting to push home prices down across the state. Affordability is the core issue. Check the forecast for your zip code on www.reventure.app

The typical home price in California is over $700,000. At a 7% mortgage rate, the monthly payment is around $5,100 with taxes and insurance. That’s the highest in the nation — even more than Massachusetts at $4,400. Will prices drop sharply this year?
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