US Edition29% Fewer California Homes Sold. Is the Fed to Blame?
- California home sales dropped 29 percent in March 2025 to 26,454, marking a significant decrease at the peak of the spring buying season.
- This decline followed the Federal Reserve's inflation control measures that raised mortgage rates from 4.3 to 6.7 percent since March 2022, increasing buyers' payments by 40 percent.
- The median home price in California reached $743,250 in March 2025, near the $750,000 record set in May 2024, despite a growing inventory that rose to 1.45 million unsold homes nationwide.
- Only 17 percent of California households qualified to buy in early 2025, down from 32 percent six years earlier, showing affordability challenges as wages rose 29 percent compared to a 101 percent increase in mortgage costs.
- Experts suggest the market approaches more balance with months of supply climbing to 4.4, and potential sellers may have to lower prices amid expectations of an 11.7 percent inventory rise during 2025.
14 Articles
14 Articles
Mid Florida Newspapers
TimesDailyApril home sales slow with high mortgage rates, prices
Sales of previously occupied U.S. homes fell in April, as elevated mortgage rates and rising prices discouraged prospective homebuyers during what’s traditionally the busiest time of the year for the housing market.
Fix home affordability? 39% price cuts, 2.4% mortgages, or 62% pay hikes
Rising home prices aren’t a sign of market strength. They’re the reason why homebuying is frozen. Consider what my trusty spreadsheet revealed in the March homebuying report from Attom, which tracks closed transactions involving existing residences and new construction, including houses and condos, dating back to 2005. Sales stats were combined with mortgage rates from Freddie Mac and income data to see who can afford to buy. Over the last six y…
Daily Breeze
29% fewer California homes sold. Is the Fed to blame?
California homebuying hasn’t been the same since the Federal Reserve’s war on inflation began three years ago. That’s what my trusty spreadsheet found in the March homebuying report from Attom, which tracks the closed sales of existing residences and new construction, both houses and condos, dating to 2005. The Fed’s efforts to cool an overheated economy with pricier financing began in March 2022. It totally iced home sales. For example, March 2…
Sales of previously occupied homes in the United States fell in April, as high mortgage rates and rising prices discouraged potential homebuyers during what is traditionally the busiest time of year…
Home sales drop to lowest April level since 2009 - ABC Columbia
(CNN)– The Spring home buying season is off to a slow start. The National Association of Realtors says existing home sales fell half-a-percent last month. That’s the slowest April pace since 2009, according to the new data. Home sales were 100,000 below expectations, and April sales were down 2% compared to a year ago. Inventory is up, but potential home buyers face high prices and mortgage rates near 7%. Mortgage rates climbed to their highest …
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