As a local Realtor, I keep a close eye on market trends and what they mean for my clients. Recently, I’ve been paying attention to home price appreciation forecasts, and the news isn’t all sunshine and roses. According to San Diego Union-Tribune, home price appreciation is projected to slow in California and 35 other states in the next 12 months.
This is a bit of a shift from the recent past. In the 12 months ending in April, California saw a 7% increase in home prices, ranking 15th in the nation. However, the forecast for the year ending in April 2025 predicts a much more modest 4.6% increase, placing California 12th in the nation.
While this slowdown may seem alarming, it’s important to remember that the past year’s price increases were somewhat illogical, given the high mortgage rates and a cooling economy. This lack of affordability has led to a significant drop in home sales.
If you’re looking to buy or sell a home, it’s crucial to understand these trends. I can help you navigate the market and make informed decisions. Contact me today to discuss your real estate needs.
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