These CA Housing Markets Hit Record Highs, Bucking Trend: Report

The housing market in California is cooling, with the typical home value in the state down 2 percent year-over-year in September, the San Francisco Chronicle recently reported, citing data from Zillow — but in some cities, the market remains hot.

Despite unappealing interest rates and economic anxiety in California, certain cities recently reached their highest home prices ever, according to the newspaper.

Among them are San Luis Obispo, Carpinteria and Carlsbad on the coast, as well as Madera and Hanford in the San Joaquin Valley, and most cities in Imperial County along the state’s southern border, according to the Chronicle.

“What these areas have in common is that they’re hours away from massive employers in the Bay Area and Los Angeles, reflecting an extended shift for the California housing market,” the newspaper reported.

The Chronicle also noted that, “as demand outpaces supply in some parts of the state, it shifts inevitably to the peripheries.”

Read more from the Chronicle.