The effects of COVID-19 caused the entire country to pause their plans on buying a home. However, once stay-at-home orders were lifted, homebuyers and sellers were ready to pick back up where they left off. While some sections of the state will take a little white to fully rebound, most of California is ready to get back into the real estate market.
In a recent article from Forbes, they sit down with a couple of California real estate agents to discuss the housing market in California. They write: “Be prepared to a dramatic shift from a sellers’ market to a motivated buyers’ market. The survey results show for properties between $500,000 to $2.9 million that 63% of Northern California Compass agents and 55% of Southern California agents think post stay-in-place pricing will be down 5% to 10%. For properties over $3 million, that number may be down by more than 10 %.”