Metropolitan Statistical Area (MSA):
Redding, CA is a Metropolitan Statistical Area (MSA) comprising counties including .
There are many factors influencing real estate trends in the Redding, CA metropolitan statistical area (MSA). The economy, job market, interest rates, and population growth are just a few. Currently, the average home price in Redding is $269,000. This is up from $248,000 last year and $234,000 the year before that. The trend seems to be that prices are slowly but steadily increasing.
The job market in Redding is strong right now with an unemployment rate of only 4%. This low rate means that more people have money to spend on housing. Additionally, the recent tax reform bill passed by Congress will likely lead to more people relocating to California for work. This could further increase demand for housing and lead to even higher prices.
Interest rates are still relatively low by historical standards. They have been slowly rising over the past few years but are still below 5%. This makes buying a home more affordable for many people and is likely one of the reasons why prices have been increasing.
Finally, population growth in Redding has been positive over the past few years. More people moving into the area creates more demand for housing which drives up prices. The trend seems to be that Redding is becoming increasingly popular as a place to live which is good news for those looking to invest in real estate here.