Major Southern California Cities are more Affordable in 2023
March 7, 2023 | Anthony Cosenza
Business Insider revealed a list of 14 cities with better buying opportunities this year–three major Southern California cities are more affordable in 2023.
The real estate market has seen numerous shifts over the past few years, as both buyers and sellers seek out the best paths for them going forward. However, there is some good news if you are looking to buy a home this year, as a recent list shows that three major Southern California cities are more affordable in 2023.
According to Business Insider and their top-14 list of cities with increased buying opportunities in 2023, San Diego, Riverside and Los Angeles are showing signs of price relief this year. The former tops the list with an 8.6% decrease from peak home prices.
In all, six cities in the state of California made the list with Sacramento, San Jose and San Francisco joining their southern counterparts. Metropolises across the nation are seeing the biggest effects on price, as large cities are becoming more affordable this year.
Of course, before jumping into a potential big city buy, it’s imperative to know what your current home is worth. If you’re unsure about that, we can give you both a Comparative Market Analysis and a personalized Equity Report.
The increase in buying opportunities in these major cities not only brings music to the ears of buyers from outside of these cities, but those within them who are renting. Lease rates have been astronomically high in these cities, so if you are looking to transition from renting to buying, this is welcomed news.
Our brokerage services many regions of Southern California and has done transactions in each one of these counties in recent history. If you are looking for your next buying opportunity in Los Angeles, Riverside, San Diego and/or Orange County, we’d be happy to help you! Major Southern California cities are more affordable in 2023 and we’d love to assist you with your real estate needs!