For #investors looking to enter the highly lucrative and sought after Californian #property market, there could be an opportunity presenting itself as the California Association of Realtors report a slowing of 30% year-on-year for home sales in the golden state.
Sales in all price segments have dropped by a minimum of 25% year-over-year, with the sub-$300k price range seeing the highest drops of 36.7%. Figures are adjusted for seasonal factors that may influence home sales and indicate September's sales pace was down 2.5 percent on a monthly basis. This is supported by #California home sales dipping for 15 straight months on a year-over-year basis.
County figures show year-to-year sales activity most depreciated in Mono (-42.9%), Yuba (-41.1%), Sonoma (-38.1%), San Bernardino (-37.2%), and Ventura (-36%). Each will present an opportunity for aggressive buyers willing to hold in the California market and wait for home prices to rebound.
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