Bakersfield with a Trend of Increasing Apartment Sales

During the first months of the year, due to changes in the regulations governing sales commissions and the constant fluctuations in interest rates, the city of Bakersfield, California experienced a slow real estate market in both the rental and property purchase areas.

Although the market for the apartment sector in Bakersfield is less dynamic, it remains stable enough within the statistics. For several years, the apartment market has shown incredibly low vacancy rates compared to other cities in the state of California.

When comparing both the rental and property purchase sectors, according to the data consulted, it was found that rental contracts fell compared to figures from previous years. Despite this unexpected drop, apartment vacancies in Bakersfield decreased, indicating that the property market has good demand but needs more offers of suitable housing.

Regarding the data corresponding to home purchases, the city presents a better outlook, as the local economy allows many people, investors, and real estate developers to see Bakersfield as a key attraction for buying and investing in affordable housing. Therefore, thanks to the affordability and economic opportunities of the city, the demand for quality housing has strengthened.

In fact, a major group of investors recently paid a historic price for an entire single-family residential neighborhood, consisting of 249 units, intended for rent, with part of it facing an imminent threat of foreclosure.

This is just one example of the momentum and positive outlook that property purchases now have in the city of Bakersfield. Real estate market experts have high expectations regarding the improvement of the sector and the potential future investments that will bring much more affordable housing and significant commercial stability.

Available Foreclosures:

Bakersfield: 15 homes available.

By Elias DaSilva | October 15, 2024.