Red Bluff, CA

There is no doubt that the Red Bluff, CA metropolitan statistical area (MSA) has seen some major changes in the housing market over the past few years. The area has experienced a decrease in home prices, an increase in foreclosures, and a rise in short sales. However, there are also some positive trends taking place in the Red Bluff MSA. For example, home sales have been on the rise since 2012, and the number of new construction homes being built has also increased.

One of the most significant trends taking place in the Red Bluff MSA is the decrease in home prices. According to Zillow, the median home value in Red Bluff was $169,000 as of September 2017, which is down nearly 9% from one year ago. This trend is likely due to a combination of factors including foreclosures and short sales flooding the market with cheap homes, and a decrease in demand from buyers who are struggling to obtain financing.

Foreclosures and short sales have also been on the rise in recent years. In fact, foreclosure filings were up nearly 30% from 2016 to 2017 according to RealtyTrac. This trend is likely due to lenders becoming more aggressive with borrowers who are behind on their mortgage payments. While this may be bad news for homeowners who are at risk of losing their homes, it could be good news for buyers looking for a bargain on a property.

The number of new construction homes being built has also increased significantly over the past few years. According to data from Builders Digital Experience (BDX), there were nearly 1,200 new construction homes completed in 2016 alone – which was up nearly 50% from 2015 levels. This trend is likely due to builders feeling more confident about selling newly built homes given the improving economy and rising home prices across much of California.