It’s still a slow recovery for Bakersfield’s housing market, but the market is stable, according to a local appraiser.
Appraiser Gary Crabtree’s latest monthly report says that 2018 saw slight improvements in all major aspects of the market.
Homes priced between $200,000 and $300,000 were in the most demand, but Crabtree estimates that buyers looking for homes over $400,000 are turning to newly built houses, causing existing home prices to decrease.
He says there’s no reason to believe the recovery won’t continue this year.
One concern at the end of the report is that while unemployment is declining.
Bakersfield isn’t creating high-paying, high-skilled jobs to support the high-end housing market.