California’s Housing Market Forecast for Summer

Welcome to the Summer real estate outlook for California for this summer and well beyond. Please do share it via Facebook or Twitter. Let’s take a good look at California home prices, sales, recent trends from CAR, NAR, Statista, Zillow and more, and predict what might be next. 

Despite all the political turmoil, dour expert forecasts, and trade uncertainty, not much seems to get in the way of California’s immense economic machine. It is just moving into the rank of 4th of worlds largest economies.  A record 18.7 million Californians are employed, wages are rising, and they’re buying homes.

The issue is buying power, home prices and the lack of available homes and apartments in Californiathat makes the market here.  The UCLA forecast is for a slide in prices and lower demand. 

Will US Economic Strength Persist?

California GDP is strong and consumers have lots of buying power with record low interest rates persisting. The case for lower prices by UCLA might be overstated. California home pricesdon’t slouch for long.

Currently in June, across most of the California housing market, active listings are growing, sales are flat and prices are rising. Strangely, apartment rentsin California are actually falling much to the chagrine of rental property managers.

In this post, lets explore the main factors that will drive the California housing marketfor the years ahead.

 

By Gord Collins

June , 2019

Photo: Current Listing at: 3667 Cabernet Vineyards Circle