THE 2014 California Association Of Realtors projection for the housing market has been released.
To quote: “After distressed sales lost their hold on much of California’s market, the state’s housing market will continue to improve in 2014, with sales shifting toward primary home buyers and both sales and home prices posting further gains, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2014 California Housing Market Forecast,” released today.
The C.A.R. forecast sees sales gaining 3.2 percent next year to reach 444,000 units, up from the projected 2013 sales figure of 430,300 homes sold. Sales in 2013 will be down 2.1 percent from the 439,400 existing, single-family homes sold in 2012.
“The housing market has improved over the past year, and we expect this trend to continue into 2014,” said C.A.R. President Don Faught. “As the economy enters the fourth year of a modest recovery, we expect to see a strong demand for homeownership, as buyers who may have been competing with investors and facing an extreme shortage of available housing return from the sidelines.”
As a Realtor doing business in Oroville, CA this news is most encouraging! As we here in our office have numerous discussions on the past, current and future market and are always keeping a vigilant watch on the real estate trends such as the current pricing and inventory along with the fluid interest rates, not to mention the partial government shut down and it’s effect or lack thereof in some instances.
I look forward to 2014 and the improvements spoken of.
For now, I will cherish every day and my blessings. I will continue to be diligent in showing the Oroville homes to interested Buyers, or the Oroville vacant lands to those looking for that opportunity to develop their own slice of paradise. Our housing and bare land prices are very affordable and I do enjoy being one of the many tour guides for those new to our area and show them all of our amenities here, such as Lake Oroville, the mighty Feather River and it’s jumping salmon and awesome beauty, Bald Rock, and plethora of picturesque settings.