Housing demand in California cooled further in July as the effects of rising interest rates and high home prices hit would-be homebuyers, dragging home sales below the annualized 300,000 benchmark level for the first time since May 2020, the California Association of Realtors said this month. Nationwide home sales fell in July for the first time in three years — the biggest decline since 2011.
July’s sales pace in California was down 14.4 percent on a month over month basis and over 31% year over year. But sales in Kings and Tulare counties showed a more modest decline. Kings was down just 1.2% and Tulare County down 7.2%. On a year to year basis, July sales in Kings were down 17.8% — nearly half the decline seen in California while Tulare County sales compared to July 2021 were down just 8.2% reflecting continued strong housing demand.
Job Fair slated for Sept. 8