Page 28 - 2018 Forecast_Neat

Housing Market Trends

2017 was a steady year for real estate. Even though many agents and consumers thought it was a

“hot” year, the best description would be steady growth as the number of sales were down, but
because of low supply, prices went up.

KEY TAKEAWAYS:

C.A.R. MEMBERSHIP

• As people perceive the market as hot, the number of active real

estate agents increase, but the number of California Association
of REALTORS® memberships is outpacing the growth of the

market

NUMBER OF HOME SALES

• The number of sales of existing single family homes in California

is growing at a slower than expected rate as the change YTY is
down to 1.3%, almost stalling

MEDIAN PRICES

• The median price of a home in California has steadily risen all
year although in most areas, prices remain well below peak levels

SUPPLY

• Supply has been decreasing for the last 26 months

• Housing Turnover Rate has been trending downward for the last
45+ years

AFFORDABILITY

• Has been trending downward since 2012

28 The Bishop Real Estate Group • www.TheBishopRealEstateGroup.com