West Coast home prices down
Visalia home sales down 42%
U.S. home prices rose in the fourth quarter from a year earlier, but once-booming West Coast markets were among a growing number of metro areas to post price declines, the National Association of Realtors said Thursday.
Falling prices were especially prominent in California, where home values had been among the highest or rose the fastest before last year’s slowdown. San Francisco was the hardest hit, posting a 6.1% median single-family existing-home sales price decline. San Jose median prices fell 5.8%, and Los Angeles and Sacramento also posted year-over-year price declines in the quarter. Info from WSJ.
In Visalia in the Central Valley January’s media home price was $369,000 – up from $360,000 for the same time in 2022.However sold listings numbered 70 – down from 122 in January 2022 as the pace of sales slowed dramatically – by 42%. Info from Tulare County Association of Realtors.