California October 2022 Market Update: are housing prices going down?

Real Estate Agent with Barcode Properties BRE # 01828994

California October 2022 Market Update via C.A.R. :

''Americans’ confidence rose to the highest level in six months in September and their spending remained steady despite higher prices. Wage growth, however, is not keeping pace with inflation and thus consumers are increasingly relying on their savings to offset the higher cost of living. As households’ savings dwindle while higher interest rates push up credit card debt, consumer confidence could dip in coming months as economic activity slows. As for the housing market, higher mortgage rates continue to worsen affordability and remain the major factor that holds back demand. Despite a slight improvement in sales in August, home buying activity is expected to be sluggish in the months ahead as rates remain high.''

Some facts and data of the current market( click the picture for more detailed information:

Los Angeles County Aug./22:  

Here are the changes in DOM for CA: (Median Time on Market of Existing Detached Homes Historical Data up to Jan/90)

Bidding wars, multiple offers are still the reality in September 2022. 

Housing price are adjusting slightly via price corrections. 

The housing inventory for sale as well as for rent is still very low. 

Here are for example two Los Angeles cities to compare: 

🏡 if you are thinking of making a move, I work across Los Angeles and San Fernando Valley. Call/text/email/DM me at your earliest convenience! Let me help you to buy or sell for the best price - saving you time and money.

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This Active Rain post is created by Inna Ivchenko.

Thank you so much for checking my blog,  likes and comments! 


Inna Ivchenko

RealtorⓇ, Cal DRE # 01828994, GRI, PSC, HAFA 

Barcode Properties at Calabasas & Beverly Hills

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Comments (12)

Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Inna - the info graphics tell the story of a shifting market in California and elsewhere.

Oct 08, 2022 03:21 AM
Inna Ivchenko

It does. As we know, the market is local, so even in general we hear about the housing prices shaking and going down, in towns around me~ not much changed. Yes, the housing data is not going up, but it is not dropping.

Oct 12, 2022 01:43 PM
Kat Palmiotti
406-270-3667,, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Interesting information about your area. We have a fairly large number of active listings with price decreases as well.

Oct 08, 2022 04:44 AM
Inna Ivchenko

Yes, we see price correction since many listings were priced higher than market originally in hope that by the time the house will be closing it will cost more. But it is not a reality anymore, so small adjustments are noted and sellers now open to negotiation ~ something we did not see for years! 

Oct 12, 2022 01:45 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Inna. If pendings continue at their pace and new listings continue at their place pretty soon there will be no place for buyers to turn. Wow, California has not heard the news that the economy is headed for the dump! What is in the water? Enjoy your day.

Oct 08, 2022 05:09 AM
Inna Ivchenko

Yes, the inventory is still very low. I just read that California's current population of almost 40 mln as of July 2021 continues to grow very slowly adding just about 211,000 per year. Therefore we'll likely experience housing shortage despite the economy's ups and downs. 

Oct 12, 2022 01:50 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Inna,

Love your infographics, they tell the story. Your market is shifting as higher mortgage rates and inflation continue to worsen affordability and remain the major factor that holds back demand all across the country

Oct 08, 2022 05:48 AM
Inna Ivchenko

Exactly! Thanks Dorie for stopping by! Always pleasure to cross! 

Oct 12, 2022 01:46 PM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em:


Enjoyed your blog page, and I added you as a friend. I would love the follow back. Bill

Oct 08, 2022 12:59 PM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

I think, as interest rates continue to rise and wages do not keep up with inflation, those costs will eat into prices. I think we have two more years of a tough ride.

Oct 09, 2022 07:31 AM
Inna Ivchenko

Yes and no. There is a direct link between population growth and need for housing. Not much can be built here. There is simply not enough housing units to meet the growing demand, people with higher incomes generally win out over people with lower incomes in the competition for remaining units. This has resulted in the cost of housing rising, both for renters and owners. 

Oct 12, 2022 01:57 PM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello and thank you for sharing this great blog with us here in the Rain.  Make it a great day!

Oct 11, 2022 09:23 AM
Inna Ivchenko

Thanks Will for stopping by! 

Oct 12, 2022 01:57 PM
Roy Kelley
Retired - Gaithersburg, MD

Families on the move will appreciate your local real estate reports.

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Oct 31, 2022 08:34 AM
Norma J. Elkins
Elite Realty Group - Morristown, TN
Realtor - Elkins Home Selling Team

Loving all of the info and very professionally presented.  I am sure your clients appreciate all of your help and information on the current market.  Hope you have a fabulous day!

Nov 02, 2022 07:43 AM
Roy Kelley
Retired - Gaithersburg, MD

I hope you are enjoying a productive autumn.

Have an outstanding week.


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Nov 23, 2022 10:15 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

thanks for the market update (Sorry I am a little late in my comments!)  it definitely promises to be an interesting winter/spring market

Nov 25, 2022 07:51 PM
Philip A. Raices
Turn Key Real Estate - Great Neck, NY
1 of the Most Knowledgeable Brokers on the Net!

Hi Inna, Was checking out posts and came upon yours. Great info and graphs.  Your Cali market is drastically different than the NY/Long Island Market.  As of Nov, we have 6000+ inventory of properties or 3.2 months of inventory.  Prices haven't yet dropped.  However, the smart people are really no longer trying to gouge in the pricing as they did previously.  But some bidding wars are still occurring in isolated areas.  As credit card debt and even higher interest rates come upon us, demand will cool off further.  I am hoping that inflation subsides in 2023, but with all the debt piling up, I am not sure this will be any help for those who really want to buy but can no longer afford to.

Nov 26, 2022 03:16 PM