Eight metro housing markets forecasted to outperform national market
Fourteen markets forecasted to underperform national market
The recently released California Association of Realtors (CAR) 2020 Housing Market Forecast projects a 4.1% increase in California median home prices in 2019 and a 2.5% increase in 2020. Such aggregate data from economists who have their ears closest to the ground is extremely valuable. HousingIQ adds actionable details to the headline.
The California housing market is large and diverse with varying local themes driving individual markets. Based on local economic conditions, the Housing Market Vitality Indicators forecast house price trends for over 400 metro housing markets. Within California, HousingIQ tracks 29 metro housing markets that add actionable detail to the headline CAR projections.
As of the August 2019, Housing Market Vitality release, California is not only home to markets that rank in the top 5% of all markets but is also comprised of markets that are in the bottom 5% of forecasted performance. Currently, 8 of the 29 CA metro markets are forecasted to outperform the national market and 14 metro markets are forecasted to underperform the national market.