Outlook on the Housing Market by the California Association of Realtors

Filed under: California

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Today, I wanted to take a few moments to share details about the California Association of Realtors and their outlook on the housing market. This association is often known as CAR. It is important to follow their updates to know what is happening in the industry. I am proactive to stay current with this information so that I can share the details with my customers.

What is CAR Saying about the Current Market?

According to the CAR, there are three big reasons why the housing market has some upside potential for at least the next few years:

  1. New Tax Reform: CAR feels that the tax reform will have a positive impact on the real estate market. In general, more people should have extra money in their pockets at the end of the year.
  2. Low Inventory: The current inventory is a topic that we have discussed a lot lately. But, it is an important factor that is affecting the real estate industry. The reality is that we are facing the problem of not having enough homes to support the demand of the buyers that are looking for properties. It is basic economics that the home prices will stay high when there is an ongoing demand for these properties.
  3. Loan Limits: Recently, loan limits were increased, which gives buyers a little more funding to work with when they are ready to buy. Higher offers help to boost the overall industry.

Because of these three reasons, the California Association of Realtors feels like the housing market still has a few more years to run. If you are thinking about buying a home, then it might be a good time to invest so that you can enjoy the potential equity in the future.

I am always here to answer your questions about real estate in Temecula. Feel free to call, text or email if you would like more information about buying or selling a home: (951) 473-0390 or [email protected]