Forecast- California home prices will continue to rise in 2018
Home prices in California will continue to increase next year, but at a slower pace, said a forecast released by the California Association of Realtors.
The median price of a home is expected to rise 4.2 percent in 2018 to $561,000, less than the expected 7.2 percent increase this year, according to California Association of Realtors chief economist Leslie Appleton-Young.
Affordability constraints stop the increases from rising higher because of the gap between income increases and home prices. Young also spoke about the impact of decreasing inventory and the impact of international buying with Chinese purchasing not having as drastic of an impact.