A Look at the Housing Market in Fresno

Ranch house swimming upstream
Creative Commons License photo credit: Allan Ferguson

There are now only a little over five hundred thousand residents at a median income of around 35k living in Fresno, CA. The housing market is considered by many residents and Realtors alike to be the most reasonable in the entire state of California. The housing market is also considered to be a modest one. The median home price is around $200k, with many being listed for around $100k. Although this makes the housing market more active than in many parts of the state, buyers may wind up in bidding wars for REO properties. Many of these properties are currently listed at or below $100k and investors and traditional home buyers alike are rushing to take advantage of this. The homes in most of Fresno are considered more mid level in design and location as opposed to high end homes.

There aren?t very many homes on the market right now in Fresno. In March of this year, there was less than two thousand homes on the market. That?s a small listing inventory, compared to the rest of California. With only a small number of homes being on the market, it?s truly the right time for a traditional seller to list their home. Realtors are also finding that those who are fortunate enough to have a high FICO score, are not having a very hard time getting loan approval. Many of these home buyers are also able to purchase their Fresno home with only a 5% down payment. The community boasts a very relaxed atmosphere for most of it?s residents and is located in the heart of California. The populace is very diverse as well. If you buy a home in Fresno, you?re only a short drive from recreation spots like Kings Canyon and Yosemite park. You?re also very close to Los Angeles and San Francisco. With the Fresno housing market being well below the market in relation to the aforementioned premier cities, it?s really a great option to purchase a home now, if you desire to live in California.