Housing Outlook

Roseville, Calif.- An improving interest rate environment, along with recent job gains, is prompting a better outlook for housing. But according to NAR, “Annual gains in home sales will not occur until 2024.” Nationwide, contract signings are still down 24.1%, coming off the pandemic-fueled homebuying frenzy.

Meanwhile, home prices likely will remain steady in our Placer/ Sacramento area and most parts of the country. NAR is forecasting the median existing-home price to moderate after rapid gains over the previous two years. The national median home price is expected to be about $380,100 this year, falling 1.6% compared to the previous year. NAR expects home prices to gain traction again next year, jumping 3.1% to $391,800.

All four major regions of the U.S. posted monthly gains in contract signings in January, NAR reports. The West saw the largest increase, followed by the South.

Julie Jalone

Julie Jalone of Magnum One Realty in Roseville

If you or someone you know is considering buying, please feel free to contact me MagnumOne Realty office in Roseville at (916) 276-6883 and email at [email protected].

We specialize serving the needs of buyers and sellers of homes in the Roseville and Sacramento area including Sacramento, Placer, El Dorado, Sutter and Yuba counties.

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