Housing Bubble Bursting?

Hey everyone,

As a local Realtor, I’m always keeping an eye on the real estate market, especially here in California. According to San Diego Union-Tribune, home price appreciation is expected to slow down in the next 12 months, both in California and in 35 other states.

This news might sound a bit alarming, but it’s important to look at the bigger picture. While it’s true that prices are expected to rise more slowly, California is still projected to see a 4.6% increase in prices by April 2025. That’s higher than the national average of 3.4%, placing California 12th among the states.

However, it’s important to remember that last year saw some incredibly high price increases, with California experiencing a 7% jump. So, the projected slowdown is simply a return to more normal growth patterns.

While this may be a good time to buy for some, remember that the real estate market is constantly changing. If you’re thinking about buying or selling a home in the coming months, it’s crucial to have a knowledgeable real estate professional on your side.

I’d love to help you navigate the market and make the best decisions for your unique situation. Visit my website at https://robertluiswallace.com/services/ to learn more about my services and how I can help you achieve your real estate goals.