Real Estate Market Forecast for 2014 – California Housing market will continue to improve.

California home sales and prices to rise in 2014 – CAR.org
LOS ANGELES (Oct. 8) – After distressed sales lost their hold on much of California’s market, the state’s housing market will continue to improve in 2014, with sales shifting toward primary home buyers and both sales and home prices posting further gains, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2014 California Housing Market Forecast,” released today. The C.A.R. forecast sees sales gaining 3.2 percent next year to reach 444,000 units, up from the projected 2013 sales figure of 430,300 homes sold.  “The housing market has improved over the past year, and we expect this trend to continue into 2014,” said C.A.R. President Don Faught. The average for 30-year fixed mortgage interest rates will rise to 5.3 percent but will still remain at historically low levels. The California median home price is forecast to increase 6 percent to $432,800 in 2014, following a projected 28 percent increase in 2013 to $408,600.
For more information or a no obligation Market Analysis for your home, contact Regina Singh at 714-883-5205 or Regina@ReginaSingh.com
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