The pandemic is continuing to change homebuying behavior. A number of people are still working at home. And a California Association of Realtors survey shows there’s a small but consistent number of people saying that provides the flexibility to move to more affordable locations, which could lower the cost of buying. Teresa Dietrich, with the local association, says that works in Nevada County’s favor…

click to listen to Teresa Dietrich

The survey also says the share of first-time buyers remains elevated, although it dropped two points this year, to 36-percent. And with the statewide median price expected to increase by double-digits from last year, Dietrich says home equity has continued to

click to listen to Teresa Dietrich

And with housing demand remaining strong and inventory reaching record-low levels in some areas, the survey says market competition has intensified to levels not seen before in California. It says the share of sales with multiple offers, and the average number of offers received, climbed for the second year in a row.