California Association of Realtors has just released its Housing Market Forecast for 2016 and things are still looking up. Growth is still a bit hindered due to the lack of inventory. Many developments have been delayed by increasing regulations in prime areas of Los Angeles, while buyers have increasingly been looking for “off-market” deals to combat the inventory squeeze.
Favorable interest rates and continued job growth has fueled the growth, as well as money flowing in from international buyers.
“The foundation for California’s housing market remains strong, with moderating home prices, signs of credit easing, and the state continuing to lead the nation in economic and job growth,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.
Read the full report: