BAKERSFIELD, Calif. (KERO) \u2014 The latest housing data for Kern County presents a mixed outlook for home buyers and sellers, with a market that remains largely flat while affordability concerns continue to grow.<\/p>\n
For residents like Vanessa Martinez, home ownership remains a goal that feels just out of reach. Martinez, a single mother of two, says she has spent years working toward financial stability and hopes to eventually purchase a home.<\/p>\n
\u201cI don’t want to continue renting without being able to invest in myself,\u201d Martinez said. \u201cThat’s where I’m at right now. I’m saving, but I’m also looking.\u201d<\/p>\n
According to the latest Crabtree housing report, the local market has remained relatively steady. <\/p>\n
However, the report warns that if mortgage rates rise to around 6%, buyers earning less than $98,000 annually could be priced out of the market.<\/p>\n
Martinez, who recently completed a master’s degree, hopes her education will improve her earning potential and bring home ownership closer to reality.<\/p>\n
\u201cIt took me two years to finish my master’s degree, and with that degree I could potentially start making around $80,000 a year,\u201d she said.<\/p>\n
While Bakersfield remains more affordable than many of California\u2019s coastal communities, housing costs have risen significantly in recent years due to population growth, limited housing inventory, and strong buyer demand.<\/p>\n
Local real estate agent Kevin Oliver says the market is showing signs of stability, though growth remains limited.<\/p>\n
\u201cWe are seeing a flat market with the number of units sold, but during the summer season we’re seeing those pending sales numbers go up,\u201d Oliver said.<\/p>\n
Although completed home sales have remained relatively unchanged, pending sales are increasing as more properties become available. <\/p>\n
At the same time, affordability remains a concern for many prospective buyers.<\/p>\n
Oliver noted that the median home price increased from approximately $398,000 in March to $400,000 in April, while housing inventory has continued to decline.<\/p>\n
\u201cWe may, if it prolongs any longer, go into 2027 and remain kind of flat from this year into 2027,\u201d Oliver said.<\/p>\n
Despite current challenges, Oliver believes broader economic improvements could help create better conditions for buyers in the future.<\/p>\n
\u201cOnce our leaders settle the tensions in Iran and that conflict is resolved, there’s a lot of potential for the housing market to get better,\u201d he said.<\/p>\n
For Martinez and many others hoping to purchase a home, any improvement in affordability could make a significant difference.<\/p>\n
\u201cI’m not asking for much,\u201d Martinez said. \u201cI’m just asking for a place to call home a place where my children can grow up and maybe one day raise their own families.\u201d<\/p>\n
Housing experts recommend that prospective buyers explore local housing assistance programs, though demand for those programs in Bakersfield often results in lengthy wait times.<\/p>\n
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