California Housing Forecast

Home prices are expected to rise in 2015.  The number of sales for existing homes is expected to also rise. This is good news for homeowners who have waited a long time for their home equity to be restored.  While many owners have seen their equity return since the recession, there is still a significant number those who have yet to see home values increase to at least the amount at which they had originally purchased.

In a report released by the California Association of Realtors this week, it is summarized that "Existing single family homes sales are projected to decrease 8.2 percent from 2013 and are forecasted to increase 5.8 percent in 2015. Also, the annual median price for 2014 is expected to rise 11.8 percent year over year and will further increase by 5.8 percent in 2015."

 

Home sales spiked upward in 2013 and have since decreased, however, they are on the way back up. Job growth is slowly improving and home prices will be going up at a healthy pace which is what we want to avoid another bubble.

 

If you would like to discuss your real estate needs, whether buying or selling, call me anytime. I always enjoy hearing from you!

 

Nancy Puder is a Real Estate Broker in Arroyo Grande CA with Nancy Puder &Associates. If you have questions or concerns regarding your property, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com.  You may also go to Facebook.com /Nancy Puder Realtor and "like" her page to access other real estate related articles.