California Housing Market Corrected By 2017?

California Housing Market Corrected By 2017?

The lead economist of a statewide Realtors group seems to think so.  Sales as well as prices are increasing, however low inventory and defaulting loans are pumping the brakes on the recovery process.  It's getting there, but we have a ways to go.

California Housing Market Corrected By 2017?

California currently has 3.2 months worth of inventory, we saw 16 months worth just four years ago.  So for now, first time home buyers are in competition with investors on lower-priced properties while multiple offers and bidding wars wage on the higher priced homes.

Have you had similar experiences?  Do you see the inventory increasing any time soon?