Listings are up in the state amid price increases, according to the California Association of Realtors.
The number of homes listed for sale in California is on the rise and last month saw the largest jump in more than a year amid heightening home prices in the state, according to data from the California Association of Realtors .CAR pointed out that active listings shot up based on monthly comparisons to last year for the second consecutive month, while new active listings also increased by double digits as the hopping spring season for home sales gets underway.
'We have fewer homes available for sale on the market now than we did in the spring of 2020, when the economy was totally locked down.'This lack of supply is also why prices for homes in the state are high, he said, as competition for available homes has escalated.Read more: Compare Top Mortgage LendersMortgage rates have ticked up to about 7 percent in recent weeks, adding to the affordability challenge for homebuyers.
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