Realtors predict California home prices will drop 9% in 2023 – Orange County Register
For years, priced-out homebuyers sat on the sidelines, praying for a market reversal to bring housing costs down from the heavens.
Next year, their prayers might be answered – sort of.
Home prices and sales both are projected to drop in 2023, according to a new California Association of Realtors forecast released today.
However, prices will still remain relatively high, and for those using a mortgage, homes will be even less affordable in 2023 than this year thanks to rising interest rates.
The median price of an existing California house will drop 8.8% next year, falling to $758,600, the CAR
