Source: California Association of Realtor
Talking Points …
- REALTORS® generally expect home prices to increase in all states over the next 12 months, with most of the heavy growth in Florida, Texas, and California, according to the REALTORS® Confidence Index from the National Association of REALTORS®.
- The median expected price increase is 4 percent. Approximately 41 percent of respondents reported that properties were on the market for less than a month when sold, and about 5 percent were on the market for more than six months.
- REALTORS® reported continued weakness in seller traffic and a decline in buyer traffic. Low supply relative to demand, tougher lending standards, and the lackluster growth in income and savings were reported to be constraining sales.