Buying A House In California 2017 -

With high competition and limited stock, sellers in 2017 frequently required a mortgage pre-approval letter before even showing a property.

Supply hit historic lows, with an "unsold inventory index" of just 2.5 months toward the end of the year—the lowest level since 2004. buying a house in california 2017

Buyers were encouraged to set aside 1.5% to 5% of the purchase price for closing costs, which in California include escrow fees, title insurance, and appraisals. Steps to Buying a Home | CA Housing Finance Agency - CalHFA With high competition and limited stock, sellers in

First-time buyers often turned to programs from the California Housing Finance Agency (CalHFA) for down payment and closing cost help. Steps to Buying a Home | CA Housing

The statewide median price for a single-family home in 2017 was approximately $537,860 , representing a 6.9% increase from 2016.

Cities like Vallejo emerged as top national performers due to their relative affordability compared to the surging San Francisco Bay Area . Regional Pricing Snapshot (Late 2017) Region/County Median Home Price Year-over-Year Change Statewide $549,560 (Dec) Orange County Los Angeles County San Bernardino County Riverside County Bay Area (Forecasted) Key Buying Tips for the 2017 Landscape