Updated: Jul 19, 2022
According to a press release by the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.), the state’s housing market will remain robust in 2022.
While supply constraints and higher-priced homes are predicted to bring California home sales down slightly, real estate transactions will still see their second-highest level in the past five years.
C.A.R is forecasting a decline in existing single-family home sales of 5.2 percent next year to reach 416,800 units, which is down from the projected 2021 sales numbers of 439,800. The California median home price is projected to rise 5.2 percent to $834,400 in 2022, following a forecast of 20.3 percent increase to $793,100 in 2021.
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