Californians More Obsessed Than Anyone About Housing Bubble in 2015

Californians More Obsessed Than Anyone About Housing Bubble in 2015

sf aerialThe folks at Estately decided to honor the closing of 2015 by running a bunch of search terms through Google and figuring out which states’ residents led the U.S. pack in searching for the same terms. Though the choice of terms may say more about Estately than about the U.S. populace at large (“Dad bod?” Really?) a couple of searches stood out for anyone interested in real estate matters.

First off, residents of California searched for the term “housing bubble” more than residents of any other state. And no wonder: They’re probably hoping or fearing that the crazy rise in home prices in the last year or two will soon end, or better yet turn in the other direction. (Whether they hope or fear depends largely on whether they’re planning to buy or sell a home.)

California prices went up by 6% or 7% in some areas, according to the California Department of Realtors (CAR). The median home value in California is currently $450,600, according to Zillow.

But people hoping for a bursting bubble may be disappointed, if CAR projections are correct. CAR is forecasting more modest price gains (due to factors like the Fed raising interest rates), but still expects home prices to increase in the 3% to 4% range.

Californians do have other things on their Googling mind, fortunately or not. Like the iPhone6, Mark Zuckerberg, and Kim Kardashian.

Meanwhile, in Florida, they’re Googling “home prices” at a higher rate than in any other state. But hey, with a median home price of $180,700, what are they worried about? (Actually, they’re worried about Trump’s net worth, Obamacare, and concealed weapons permits, according to Estately’s research).

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