COVID-19 & the Real Estate Market in CA

Market News

Not surprisingly, Californa experienced the worst month-to-month sales decline in April 2020 in over 40 years. The Bay Area saw the biggest decline in California with sales dropping 37 percent. While virtual tools have come in to play, the shelter-in-place orders and the lack of open houses has severely impacted Californa real estate.

Home prices dipped slightly although the difference between April 2020 and April 2019 is statistically flat. Most of the biggest declines were in high-end homes. Even with low inventory and decline interest rates, analysts expect home prices “to be tested” by the economic challenges currently facing the region.