November 24, 2017 – Napa, CA-based real estate agents Connie and Jamie have recently begun highlighting the 2018 California Housing Market Forecast from the California Association of Realtors. The Forecast points to a modest gain in existing single-family homes of 1.0%, reaching up to 426,000. The data also shows that the average rate for a 30-year mortgage will increase from 4.0% to 4.3% in 2018, highlighting the improving economy and stronger fundamentals in the wider marketplace.
Get Expert Real Estate Advice
By working with trusted Napa real estate agents, those considering buying a home in 2018 can make a more effective decision for their family. It’s important to gain greater insight on the changes in the local market before reviewing available properties, and that’s why the team at Connie and Jamie are now offering their summary of the latest data on the California housing market.
The data provided by The California Association of Realtors shows that the median home price is forecasted to grow 4.2% to $561,000 in 2018, which follows a projected 7.2% increase in 2017. The data points to a tight housing inventory for the year ahead with lower affordability in some California marketplaces. The data also shows that the economy is improving across California with the state’s unemployment rate due to dip to 4.6% in 2018 following on from 4.8% in 2017.
About Connie & Jamie
The real estate agent team of Connie and Jamie is here to guide local Napa homebuyers in learning more about the California real estate marketplace. Their experience makes the team the go-to specialist for those buying and selling Napa homes. To learn more about the latest housing market data, contact them directly at 707.480.5557 or visit their business website at www.connieandjamie.com.