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Will 2015 Be The Year Of The California Homebuyer?

October 26th, 2014 · No Comments · American Riviera, Mark Lomas and Kirsten Wolfe, Santa Barbara Real Estate

3SBCourthouseAerial 
The Santa Barbara Courthouse Aerial Photography by Technopanorma.com

The year 2015 may go down in the record books as the year of the California homebuyer. 

A forecast by the California Association of Realtors offers unbridled optimisim for homebuyers in the coming year.   CAR is predicting that the supply of available homes on the market will continue to grow, and prices will flatten as fewer investors will be bidding against traditional homebuyers as home sales rise modestly across the state.  CAR also predicts that mortgage interest rates will remain at historically low levels throughout the year.

Looking at the numbers CAR said existing home sales will rise 5.8% in 2015 after an expected 8.2% drop in 2014.  Mortgage rates will rise only slightly to 4.5%.  The statewide medium home price is projected to rise 5.2% following an expected 11.8% increase this year – the slowest rate of price appreciation in four years.

If you’re considering making a move in this market give us a call, text, or email and let us show you how are experience and skills can make the difference you’re looking for!

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