California’s real estate market has been a roller coaster of ups and downs for months.
On one hand, buyers have had to wait months to see a buyer, and then they can be sold off and they are sold again and again.
On the other hand, a large portion of buyers have been waiting for the sale of their property.
But now, it’s starting to look like California’s housing market could finally hit the bottom.
According to a report released by the National Association of Realtors (NAR), California’s homes are down over 30% in July.
The NAR says it is likely due to the impact of the drought and the housing market downturn, but that the overall market may be suffering from a lack of supply.
This is particularly concerning for first-time buyers who may have to wait weeks or even months to get a home, and may have been stuck in limbo for months before getting a deal.
Real estate sales in California have been relatively strong this year.
According to the NAR, California’s sales have been up by 5% year over year, up from 2.4% a year ago.
But that’s not good news for the real estate industry, which is already facing a shortage of inventory.
The average price of a single-family home in California has increased by 2.9% over the last year, to $1,854,000, according to the Real Estate Board of Greater Los Angeles.
This is the worst-case scenario for the housing industry.
According the NVR, California has the third-lowest median home price in the country, and the fourth-lowst median price of all states.
While prices are still up a bit from the record low of $879,000 set in 2017, the average price for a single family home in the state has fallen to $934,000.
In comparison, California houses are still the fourth most expensive in the nation.
This trend is not unique to California.
In fact, home prices have been falling in many other states, including the nation’s top three states.
This trend is also expected to continue, with some experts saying that California’s current low level of inventory could mean that homes will likely see a steep price increase in the future.
According the Nardos, California is also facing an economic slowdown, as more than a quarter of all California jobs were lost in the first half of 2018, and that number is expected to increase to more than half by the end of the year.
California also is struggling to attract new businesses to the state.
The shortage of jobs has caused a drop in tax revenue for the state, which has been responsible for nearly half of the state’s revenue.
The lack of new construction has also impacted home sales.
In addition, some states, such as Hawaii and Alaska, are experiencing the worst economic times in decades.
This shortage of new homes has been blamed for a decline in home sales in both cities and counties.
The latest NAR data shows that the national median home sales price in August dropped by 3.3%, from $1.2 million to $838,000 in the Los Angeles metro area.
The median price in Orange County dropped by 8.7%, from just under $1 million to just over $800,000 for the same month.
Meanwhile, in San Francisco, sales of single-unit homes fell by a whopping 9.4%, from 4,719 units to just 1,567 units.
The San Francisco Chronicle reports that the number of new listings for single-detached homes in the Bay Area decreased by 14.4%.
The San Francisco Bay Area saw a massive increase in sales of condos and townhomes in the past few months, which saw prices rise by almost 5% from last year.
But it’s not just the area that’s suffering from this shortage of housing.
Many of the largest metropolitan areas in the U.S., including Seattle, Phoenix, San Diego, and Houston, have seen significant declines in home prices, as well.
The biggest declines in the number and percentage of homes sold to investors came in San Antonio, Houston, and Miami.
Sales in other major cities have also been hurt by the shortage of homes, with San Francisco and Boston suffering the largest drops.
According a recent report from the National Multiple Listing Service (NMLS), the number on the market for a home in any of the 50 U.s. cities decreased by 3% in August, and 6% in San Diego and 8% in Boston.