Real Estate Watch – Berkshire Hathaway
2017 Real Estate Market Projections
Always around this time of the year we start wondering what is going to happen next year. Well, we aren’t the only ones. The experts feel the same way and we start seeing the projections that they are predicting.
We always turn to the C.A.R. Vice President and Chief Economist Leslie Appleton-Young to see what her opinion is. In the C.A.R. 2017 California Housing Market Forecast she stated, “With the California economy continuing to outperform the nation, the demand for housing will remain robust even with supply and affordability constraints still very much in evidence. The net result will be California’s housing market posting a modest increase in 2017.”
C.A.R. President Pat “Ziggy” Zicarelli also spoke in this same article. He stated, “Next year, California’s housing market will be driven by tight housing supplies and the lowest housing affordability in six years.”
Interest rates always factor into the projections. As we all know, the interest rates are historically low and will remain historically low even if there is a slight rise in interest rates. The experts are saying a 4.0% interest rate will be the norm, which is up from the 3.6% interest rates we are seeing as a norm in 2016.
We feel these projections are in line with what we are seeing and expecting for 2017. San Diego is an amazing place to live and we feel fortunate to be able to help you achieve your dreams of owning a home. Call us today! Experience is paramount in such a life-changing event. 2015 Chairman’s Circle Platinum Award Winners placing us in the top 1% of Real Estate Agents Nationwide, we are your first and only call for all of your real estate needs.
Glenn Holtz & Tanya Gabriella
An independently owned and operated franchisee of BHH Affiliates, LLC.