Part 5/12:
This population decline compounds the housing supply issues. As fewer people move in, demand diminishes, and the elevated inventory begins to pile up. Interestingly, other states such as Florida, Texas, and Arizona are experiencing rising inventories too, but for different reasons. Those regions are still attracting newcomers with lower housing costs and lower taxes, whereas California's supply glut stems from buyers holding off on purchases rather than a flood of new listings.