California’s Illusion of Invincibility Just Shattered California — long paraded as the golden state of endless demand and indestructible property values — is now bleeding inventory and shedding illusions. New listings are piling up faster than buyers can vanish: Orange County: +50% YoY San Diego: +44% Los Angeles: +38% Riverside/San Bernardino: +38% Sacramento: +37% Fresno: +33% San Jose: +29% San Francisco: +21% And despite widespread delistings, the market keeps getting flooded. Sellers are chasing ghosts. Buyers are disappearing into the fog of 7% mortgage rates and collapsing confidence. And agents — the same ones who were breathlessly selling the “immune” narrative two years ago — have suddenly gone mute. This isn’t a correction. It’s a breakdown. And the ripple effect…
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