Buyers from outside cities impacting home prices in Stockton, CA

California

2022/07/06

The rise in median home prices in Stockton has created a significant decrease in homes sold, while demand remains high.The city’s median home value was ~$477K in June, ↑ 7% since March, and it is continuing to rise.Also, the amount of homes sold in Stockton ↓ 30% YoY, while the number of homes built ↑ 7% YoY. In addition to general inflation and rising interest rates, there are a number of factors specific to the Stockton region increasing home costs.