Home price median slipping again as interest rate hikes limit buying power

Home price median slipping again as interest rate hikes limit buying power

Roger Pettingell Sarasota Real Estate

New data shows Bakersfield is on pace for a third-consecutive monthly decline in median home sale prices amid rising interest rates and an abrupt reversal in the local balance between supply and demand.

Appraiser Gary Crabtree reported Wednesday this month’s median to date stands at $372,500, or 2.1 percent less than June’s final number. That’s still slightly above January’s median, but it’s almost 5 percent lower than the peak the local market reached in April.


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