Realtors Predict California Home Prices to Rise Next Year

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.

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