California Housing Markets are Starting to Stall
CURBED
By Jeff Andrews
The tech boom in Silicon Valley and the entertainment industry in Los Angeles have long made California’s markets a desirable place to own a home, but according to data compiled by the California Association of Realtors, those housing markets are showing signs of stalling. Pending home sales—notoriously volatile but considered a sign of where a housing market is headed—dropped 2.6 percent in October compared to a year ago in California, the ninth time in 10 months the state saw a decline, including four straight months.
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