Will home prices drop in 2022 in Southern California?
California Housing Forecast
C.A.R.’s “2022 California Housing Market Forecast” predicted a 5.2% decline in existing single-family home sales to 416,800 units, down from the projected 2021 sales estimate of 439,800 units. Their forecast for California median home prices was for a rise of 5.2% to $834,400 in 2022.
Will San Diego home prices drop?
The 2022 figure is 19.2% lower compared with the pace of 444,520 homes sold in 2021, according to the real estate trade association. The California median home price is forecast to drop 8.8% to $758,600 in 2023, following a projected 5.7% increase to $831,460 in 2022 from $786,700 last year.1 day ago
Are home prices expected to drop in California?
California’s median home price is forecast to decline 8.8 percent to $758,600 in 2023, following a projected 5.7 percent increase to $831,460 in 2022. Housing affordability* is expected to drop to 18 percent next year from a projected 19 percent in 2022.1 day ago