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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




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                                  The Bishop Real Estate Group • www.TheBishopRealEstateGroup.com
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