Cottonwood, CA 96022 housing market

What this means

• Valuation. Prices are roughly in line with local incomes (+3% vs. this area's pre-2020 price-to-income norm).
• Prices. Home values are up 1.7% over the past year (U.S.: +1.2%), but still 4% below their 2022-23 peak.
• Supply. Listings are 1% below the 2017-19 norm and rising (+21% vs. a year ago), close to pre-pandemic levels.
• Negotiating. Buyer leverage is high (67/100; U.S.: 54): homes sell for about 1.7% below their final list price; 29% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 30% of the median household income (U.S.: 35%); it takes about $91k a year to keep the payment at 30% of gross pay. That includes about $1,900 a year for home insurance (U.S.: $1,790).
• Disaster risk. FEMA expects about $475 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from wildfire. Check insurance costs before buying.
• Outlook. Leaning up: likely −6% to +10% over the next 12 months (69% chance of a rise).

Next 12 months

Leaning up

Prices are more likely to rise than fall over the next year. Likely change: −6.4% to +9.9% (80% range; middle estimate +2.8%), chance of a rise 69%, 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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