In April, California experienced a significant increase in home listings, surpassing 64,900âits highest since the pandemic began. Seller activity increased, contributing to a 50% rise in active listings year-over-year. Despite this surge, home sales have remained weak, with figures now lower than during the Great Recession. Economic concerns, combined with affordability issues, are hurting buyer demand, leading to stagnant sales. Experts point to ongoing tariffs and rising prices, exacerbating the disparity between income and housing costs as critical factors influencing the market.
"Home sales slowed in March as both buyers and sellers grew more concerned about the ongoing tariff situation and its potential impact on their personal finances."
"Affordability has been a key factor weighing on buyer demand in California, with median home prices there more than eight times the typical household's annual income."
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