C.A.R. releases its 2024 California Housing Market Forecast

The 2024 California Housing Market Forecast sees a better year ahead for both buyers and sellers. First-time buyers who were squeezed out by the highly competitive market in the last couple of years, will try to attain their American dream in 2024. Here are some details to know:

Existing, single-family home sales are forecast to total 327,100 units in 2024, an increase of 22.9 percent from 2023’s projected pace of 266,200.

California’s median home price is forecast to climb 6.2 percent to $860,300 in 2024, following a projected 1.5 percent decrease to $810,000 in 2023 from 2022’s $822,300.

Housing affordability is expected to remain flat at 17 percent next year from a projected 17 percent in 2023.

The report predicts the housing supply will remain below the norm despite a projected increase in active listing of between 10%-20%, as market conditions and lending environment continue to improve. So relay to your clients that real estate remains strong and will just increase this year – so Sell if interested and Buy now, don’t wait!

Best,

Ken & Ari Walker - Your Direct Private Money Source

Husband & Wife Team

Phone: 707-708-0797 / Office: 1400 N. Dutton Ave #22 Santa Rosa, CA 95401
Ken: CA DRE Broker #01858042 / NMLS #1221130
Ari: CA DRE #01858152 / NMLS #2170867

Bio: Ken & Ari are a husband & wife team with over 30 years of combined real estate and private money lending experience. They like working with buyers & borrowers, as well as directly with other licensed individuals who have clients in need of fast & alternative financing, and who can benefit from Private Money mortgages. (Qualify for our financing despite DTI ratios, credit score, property condition, difficult to prove income, etc. on purchases and refinances for owner occupied & investment properties.)