California home buyers could look toward more affordable inland areas, such as the Inland Empire, with housing prices expected to rise again in 2017, according to a new industry forecast.
The California Association of Realtors predicts housing prices in the state should climb 4.3% to a median price of $525,600 next year. California’s median price is projected to end this year at $503,900, which would be an increase of 6.2% from 2015.
“Next year, California’s housing market will be driven by tight housing supplies and the lowest housing affordability in six years,” Pat Zicarelli, the association’s president, said in a statement.
The realtors association also predicted that the economy in California will keep improving to help drive the volume of home sales up 1.4% statewide.
Read more at LA Times.com.