Real estate trends in California in 2021
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This year was definitely a year where we still are fighting the pandemic, but things are steadily going back to normal. And what better way to look at it than to check out the housing markets? When it comes to California, our Monterey moving company is one of those that have the knowledge of it when it comes to the local area as they have helped people relocate all over the state. Here are some real estate trends in California that were more or less surprising.
There’s always a demand for real estate in California
If there’s something that you can say is always true, then it’s the fact that people always love having real estate in California. That’s why also during this not-so-easy year, people were still buying property all over the state. Be it big or small homes, the market didn’t stop for a second. With the market, also the moving companies Morgan Hill CA had their fair share of work. Above all, the moving industry is tightly connected with the real estate market. Overall, the dream of having a home or even a small apartment in California is what motivated people. For that reason, the trend of buying in 2021 shouldn’t be a surprise for you.
The real estate trends in California this year include big activity on the market
Whether you were on the buying or selling end, there were some movements on the market. If last year was a bit shy because of the pandemic, this year was definitely a break-out year. All over California there were transactions being made be it selling or buying. There were a lot of times when our residential movers were called into action. And with their expertise. every move can be done quickly and efficiently. This is the year where a lot of real estates changed owners. It’s an amazing fact that even during a crisis California is still one of the hottest places to be all over the US.
Real estate prices are higher in comparison to last year
One of the main details to look for in real estate is its price. People usually buy when the prices are lower than usual. However, the activity on the market was a catalyst for the prices to go up. The bigger demand is definitely something that had an impact on the rise of real estate prices in 2021. It’s one of the real estate trends in California that people don’t like very much but still paints the picture realistically. Even though the expectation was that the prices will go down because of COVID, the market hasn’t reflected that viewpoint.
The more expensive the real estate the easier was it to sell in 2021
Every year since the monitoring of the real estate market, there’s always a strange and quirky fact about it. For this year, it’s definitely the fact that the homes and apartments that had a bigger price tag were easier to sell. This usually isn’t the case in the state of California as the prices can get really high. On top of that, even our interstate movers have been working harder as the majority of those expensive homes are now the property of people outside the state. You would think that an expensive home will scare off buyers, but in 2021 this wasn’t the case.
Rent prices have dropped and kept falling since the COVID-19 pandemic
It’s not a secret that the COVID-19 pandemic had an impact on the real estate market in the last couple of years. Especially on things like prices, rents, and overall activity on the market. One of those details is rent prices. In the past 24 months and more the rent prices in the state of California have been dropping significantly. Above all, this is some great news for all people and families that are hit hard by the pandemic. On top of that, California definitely has some high rent prices even with this unexpected change. It’s definitely one of the positive real estate trends in California this year. Even though it didn’t come from a positive reason.
Among the real estate trends in California is that people in the state don’t think the time is right for buying
Even though the movement and activity in the real estate market are undeniable, people are still very skeptical. For example, there’s a study that shows that almost 80% of people still think that it’s not the right time to buy property. The fact that people are still a bit in fear shouldn’t surprise you. Especially if you think about the fact that the housing market crash didn’t happen so long ago. Every crisis instills some fear in the people. However, the market this year hasn’t really shown that fact, even though people are legitimately afraid of buying real estate at this time.
A quality lifestyle is more important than the affordability of a place
There’s no denying the fact that people usually use the price of a property or real estate before buying it. However, this is the year where this detail came in second place. That’s because the quality of lifestyle overall was able to beat it. Let’s be clear, this was always an important detail, but it was still sitting tight in second place behind the real estate prices. But, this year brought some amazing changes, and this is one of them. People want to have a better life in California and don’t mind giving a couple of dollars more for it.
The year 2021 has brought a lot of changes. Above all, the real estate trends in California this year mirror that perfectly. This is just one of the things that show you how unpredictable the real estate market can really be. Especially in a state like California where anybody would like to live. Who knows what things to expect in the next year? However, we’re sure that the real estate market will once again surprise us with some unexpected trends.