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.
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If you or someone you know is considering buying, please feel free to contact me MagnumOne Realty office in Roseville at (916) 899-6571 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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