Since 2017, a California exodus has been unfolding. Each year, more people leave the state. In addition, more higher earners make up more of those that leave each year. Businesses are leaving in unprecedented numbers. All while the state of California tries to fix the problem with more of what caused it in the first place.
The first time home buyer faces several challenges, especially in today’s real estate market. Affordability is a significant concern as housing prices have reached record highs, and mortgage rates have increased.
The headlines today sure do seem to be sending out a positive message relating to the 2023 real estate market. Many tell us the great home value drop is over. The most recent numbers prove we are out of the woods. Do they really?