[postpawl]

That's surprising given the data. Were these transactions recent? Investors focus on entry-level properties, so if you're buying above that tier you'd see less competition. But California overall has high investor activity:

“In 2025’s first half, 36% of purchases statewide were made by investors – up from 31% for all of 2024 and 16% at the recent low in 2020 as coronavirus was scrambling the economy.”

https://www.dailynews.com/2025/09/11/36-of-california-homebu...