Following is our local Citrus Valley AOR report for last month from C.A.R. Analyst Guillermo Flores.
With the homebuying “season” coming to an end, Guillermo said that both sales and prices showed signs of slowing in the latest report.
“July sales dipped for the first time in 13 months and the statewide median price failed to set a new record for the first time in five months,” he said. “The market is still strong though, as sales level remain above pre-pandemic levels, and California median price increased from last year by 21.7 percent.”
Tight Supply Issue
Of course, tight supply remains an issue, “and the Delta Variant will be a wild card for both the economy and the market in the coming months,” he said, referring to the coronavirus.
As always, Guillermo encourages members to “read what our 2021 C.A.R President, Dave Walsh, and our VP & Chief Economist, Jordan Levine, had to say about the market in our July Sales & Price press release.”
Guillermo also reminds CVAR members to visit the C.A.R. website for the latest weekly market updates, which include member survey results posted every Monday.
“As I’ve said before, REALTOR® members can participate in the survey directly from that page. [Your] input is super valuable and make these reports possible.”