Part 10/12:
Similarly, regions like Dallas, Atlanta, Minneapolis, and Cleveland could see significant home sales upticks if mortgage rates fall to around 6%. Their more affordable price points make them prime beneficiaries of any such rate reductions, illustrating a potential shift in housing demand toward less expensive markets if rates ease.
The Long Road Ahead
The overall outlook suggests that California's housing market remains heavily skewed toward sellers, with prices still high and demand subdued. The persistent inventory buildup hints at an inevitable price stabilization or correction in the medium term, driven by less affordability and rising supply.