Interesting CA Real Estate Facts
-California homeownership was 46.3% in 1900 and rose to 54.3% in 2013.
-Homeownership rate for 18-34 year olds fell to a record 13.2% in 2014 during the Great Recession.
-Mortgage rates have remained at record lows in recent years, with the lowest level reaching 3.34% for the average 30-year, fixed-rate mortgage.
-The average 30-year, fixed-rate mortgage was 18.4% when it peaked in October 1981!
-California’s largest gain in annual median price was in 1977, when the statewide median price went up 28.1% from 1976.
-California’s largest decline in annual median price was in 2008, when it dropped 37.8% from 2007.
-The statewide median price was $3,527 in 1940 and $447,010 in 2014.
-Between 1968 and 2014, the statewide median price for existing single-family homes had been increasing at an annual rate of 6.6%.
Source: C.A.R., August 2015.