Lucerne, CA 95443 housing market

What this means

• Valuation. Prices are roughly in line with local incomes (+4% vs. this area's pre-2020 price-to-income norm).
• Prices. Home values are up 4.3% over the past year (U.S.: +1.2%), but still 7% below their 2022-23 peak.
• Supply. There are 62% more homes for sale than the 2017-19 norm and rising (+75% vs. a year ago), so buyers have more to choose from than before the pandemic.
• Negotiating. Buyer leverage is high (92/100; U.S.: 54): homes sell for about 7.1% below their final list price; 0% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 59% of the median household income (U.S.: 35%); it takes about $85k a year to keep the payment at 30% of gross pay. That includes about $2,262 a year for home insurance (U.S.: $1,790).
• Disaster risk. FEMA expects about $755 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from flooding. Flood isn't covered by standard homeowners insurance.
• Outlook. Leaning up: likely −7% to +10% over the next 12 months (68% chance of a rise).

Next 12 months

Leaning up

Prices are more likely to rise than fall over the next year. Likely change: −6.6% to +9.7% (80% range; middle estimate +2.7%), chance of a rise 68%, of a 5%+ drop 13%.

HouseVane's model, refit every month on local market signals and national ones, trained only on data known at the time. How accurate it has been.

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