How safe is Corona, CA Real Estate Market in Q1, 2022 By Kamesha Keesee
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here are three major indicators of a market crash. These are the economic downturn, high inflation rates, lending practices, and the supply and demand dynamic in Corona.
homebuyers were paying well over the asking price. According to market competitiveness slowed towards the end of the year than a month ago, but still high regardless.
HOUSING SUPPLY
Statewide, the median sales-price-to-list-price ratio remained above 100 percent; however, that figure dropped in November to101.4, the lowest since March 2021. As a result, homes are flying off the shelves at an alarming rate.
Later this year, new construction will supplement the current inventory. As a result, construction activity has increased towards the end of 2021, despite a lack of building labor and materials. In November, construction spending in the United States increased by 0.4 percent, while residential expenditure increased by 0.9 percent. Singlefamily homebuilding increased by 1.2 percent, while multi-family housing spending fell by 0.3 percent. Overall construction spending has gone up 9.3 percent year on year, but a portion of the increase can be attributed to the increasing cost environment.
The median number of days required to sell a single-family home in California was 11, unchanged from October and up from 9 days in November 2020. This trend is expected to continue through 2022. With new housing being built, inventory will remain tight for the foreseeable future.
The Producer Price Index (PPI) for building materials, for example, increased by 1.5 percent in November. Supply constraints may ease later this year, but COVID will continue to pose a threat to public health in the short term.
The housing demand in Corona outweighs the supply and cannot be met. This implies that inventory will not be idle; instead, it will move quickly. Home values will rise as a result of this demand. This indicates a healthy housing market. This will continue to be the case throughout the year as people move to Corona.
HOUSING DEMAND
PRICE APPRECIATION
For the most part, 2021 was characterized by a supply-demand imbalance. With demand high,
According to Redfin.com, Corona, CA’s housing market is highly competitive, with a score of 70 MARCH 2022 | 63
