2017 Housing Forecast - What's Happening in California in 2017by Christian Cervantes on 01/11/17
Take a look at the California Association of Realtors 2017 Housing Forecast
C.A.R. releases its 2017 California Housing Market Forecast
Home sales expected to edge up slightly in 2017, while prices post slowest gain in six years
LOS ANGELES (Sept. 29) – Following a dip in home sales in 2016, California’s housing market will post a nominal increase in 2017, as supply shortages and affordability constraints hamper market activity, according to the "2017 California Housing Market Forecast," released today by the
The C.A.R. forecast sees a modest increase in existing home sales of 1.4 percent next year to reach 413,000 units, up slightly from the projected 2016 sales figure of 407,300 homes sold. Sales in 2016 also will be virtually flat at 407,300 existing, single-family home sales, compared with the 408,800 pace of homes sold in 2015.
"Next year, California’s housing market will be driven by tight housing supplies and the lowest housing affordability in six years," said C.A.R. President Pat "Ziggy" Zicarelli. "The market will experience regional differences, with more affordable areas, such as the Inland Empire and Central Valley, outperforming the urban coastal centers, where high home prices ... READ FULL ARTICLE