Fresno County Housing Data, Made Easy

According to housing, CPI, and inflation statistics for 2023, buying or selling a home in Fresno, California, is still a wise move.

The housing market in Fresno, California is still quite advantageous for both buyers and sellers in 2023, despite the current high interest rates, I can tell you as a real estate agent and specialist in current data. Let's examine the evidence for this assertion.

The Redfin Data Center reports that the median sale price of a home in Fresno at the moment is $370,000. This is an increase of 14.7% from the prior year, showing that the market is still expanding rapidly. Also, Fresno's median days on the market for properties is just 12, which is considerably less than the 28-day average for the country.

Despite the high sale prices, the Bureau of Labor Statistics' most recent CPI and inflation data show that inflation has been rising consistently but is projected to calm down in the near future. This is positive news for the home market since it signals a potential stabilization of mortgage interest rates.

It is important to keep in mind that interest rates are currently high, with the 10-year Treasury yield expected to be higher than the historical average in 2023, about 3.978% as of today. This implies that mortgage interest for buyers will increase. The Fresno home market currently offers tremendous prospects for both buyers and sellers despite these high interest rates.

The huge quantity of houses available on the market is one factor in this. There are more properties available for purchase in Fresno than there have previously been, offering potential buyers more options. This implies that in order to draw in buyers, sellers must price their properties competitively.

Moreover, Fresno continues to be among California's most affordable cities, making it a desirable alternative for both first-time homebuyers and those seeking to upgrade from their current residences. The robust employment market and expanding economy of Fresno, which are anticipated to continue in 2023, are additional factors contributing to the city's high housing demand.

Despite the high interest rates, 2023 is still a great year to buy or sell a property in Fresno, California, according to the 2023 housing data, CPI, and inflation data. The property market in Fresno is robust, there is a healthy supply of properties for sale, and the local economy is expanding, so both buyers and sellers can still profit from moving there. Now is the time to act and make your move if you're thinking about buying or selling a home in Fresno.

Data Sources:

• Redfin Data Center: https://www.redfin.com/city/7121/CA/Fresno/housing-market
• Bureau of Labor Statistics: https://www.bls.gov/
• 10-year Treasury: https://www.treasury.gov/resource-center/data-chart-center/interest-rates/pages/textview.aspx?data=yield