Real Estate Agent with Johnson & Johnson Real Estate Group DRE #01833715

California’s housing market will continue to recover in 2013, as home sales are forecast to increase for the third consecutive year and the median price to rise for the second straight year, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2013 California Housing Market Forecast,” released today.



The C.A.R. forecast sees sales gaining 1.3 percent next year to reach 530,000 units, up from the projected 2012 sales figure of 523,300 homes sold. Sales in 2012 will be up 5.1 percent from the 497,900 existing, single-family homes sold in 2011.


“The market has improved moderately over the past year, and we expect that to continue into 2013,” said C.A.R. President LeFrancis Arnold. “Sales would be even higher if inventory were less constrained in REO-dominated markets, particularly in the Central Valley and Inland Empire, where there is an extreme shortage of available homes. Sales will be stronger in higher-priced areas, where there are more equity properties and a somewhat greater availability of homes for sale.”


“Housing affordability has never been stronger – with record-low interest rates and favorable home prices, combining to create a once-in-a-generation opportunity to buy a home in California,” said Arnold.


C.A.R.’s forecast projected growth in the U.S. Gross Domestic Product of 2.3 percent in 2013, after a gain of 2 percent in 2012. With job growth of 1.6 percent in California, the state’s unemployment rate should decrease to 9.9 percent in 2013 from 11.7 percent in 2011 and 10.7 percent in 2012.


The average for 30-year fixed mortgage interest rates will edge up to 4 percent after six consecutive years of declines, but will still remain historically low.


The statewide median home price is forecast to increase a moderate 5.7 percent to $335,000 in 2013. Following a decrease in 2011, the California median home price will climb a projected 10.9 percent in 2012 to $317,000.

“The housing market momentum which began earlier this year will continue into 2013,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “Pent-up demand from first-time buyers will compete with investors and all-cash offers on lower-priced properties, while multiple offers and aggressive bidding will continue to be the norm in mid- to upper-price range homes.” .




  2008 2009 2010 2011 2012f 2013f
SFH Resales (000s) 441.8 546.9 492.3 497.9 523.3 530.0
% Change 27.3% 23.8% -10.0% 1.1% 5.1% 1.3%
Median Price ($000s) $348.5 $275.0 $305.0 $286.0 $317.0 $335.0
% Change -37.8% -21.1% 10.9% -6.2% 10.9% 5.7%
30-Yr FRM 6.0% 5.1% 4.7% 4.5% 3.8% 4.0%
1-Yr ARM 5.2% 4.7% 3.5% 3.0% 2.8% 2.8%
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Patrick White
Home Driven Realty, Inc - Baldwin, NY
Driven to bring New Yorkers home

Good Morning Justin

Thanks for the market update. Good seeing the market recovery. Have a great week


Oct 07, 2012 05:14 PM #1
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Welcome to the Rain Justin. You are offering some great information for buyers/sellers in your market. ( FYI, you are the featured member in Newbie Tuesday today)

Oct 09, 2012 01:05 AM #2
Justin Johnson
Johnson & Johnson Real Estate Group - Roseville, CA
I will always answer your call.

Thank You! Active Rain has been awesome members are so supportive. Have a great day...

Oct 09, 2012 01:17 AM #3
Heidi Kelley
Keller Williams Realty Leading Edge - East Providence, RI
Your Rhode Island Real Estate Connection

Hi Justin,

Just came over from Debb Janes Newbie Tuesday blog to say "Hi" and "Welcome to AR".  Have a great day!

Oct 09, 2012 01:20 AM #4
John McCormack
Albuquerque Homes Realty * - Albuquerque, NM, Albuquerque Homes Realty

Good morning Justin -

I found you via Debb Janes Newbie Tuesday post.  Welcome to the Rain my friend.  If I can be of any assistance to you in any way both in and out of the Rain.  It's one of the best features of the Rain.... We help each other out and have each others backs.  Feel free to give me a shout or shoot me an email my friend.

Oct 09, 2012 01:23 AM #5
Adrian Willanger
206 909-7536 - Seattle, WA
Profit from my two decades of experience

Hey Justin-welcome to AR, I also read Debb's blog introduction. On another note hopefully the lower end home sales will turn into to move up buyers?



Oct 09, 2012 01:24 AM #6
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Newbie Tuesday - 10/9/2012 Welcome Justin Johnson......this post by Debb Janes is what got me here Justin.  Welcome to ActiveRain.  It is a wonderful network of people who are helpful in so many ways.  Don't hesitate to ask questions, make comments and offer opinions and advice, that's how it works around here.  You'll make many friends and form some wonderful relationships, especially with an endorsement from this fantastic lady.  Happy Blogging!

Oct 09, 2012 02:11 AM #7
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Welcome to Active Rain, Justin. Just saw Debb Janes post Introducing you to our AR Community. Great to hear that the housing market in California is heading a good direction.

Oct 09, 2012 02:24 AM #8
Randy Ostrander
Lake and Lodge Realty LLC - Big Rapids, MI
Real Estate Broker, Serving Big Rapids and West Central MI

Good afternoon Justin and welcome to the Rain. Stopping by from Debb Jane's blog. Hope you enjoy our online commun ity.

Oct 09, 2012 03:24 AM #9
Sharon Lee
Sharon Lee's Virtual Assistance - Jonesborough, TN
Retired and loving life

Justin-Debb Janes highlights a newbie each week and so I popped over to welcome you to Active Rain. It is a wonderful place to learn, grow your business and make lots of friends.

Oct 09, 2012 05:16 AM #10
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Hi Justin, I saw you spotlighted on Debb Janes blog and I wanted to say hello and welcome to the Rain. I hope you get as much knowledge and enjoyment out of this experience as I do.

Good blog and I really like the chart you included with several key CA housing statistics.

Oct 09, 2012 05:52 AM #11
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Justin, welcome to ActiveRain, and you show your knowledge in your posts, and valuable information for buyers & sellers.

Oct 09, 2012 07:44 AM #12
Mimi Foster
Voted Colorado Springs Best Realtor

Good evening, Justin.  Came over from Debb Janes' post to welcome you to ActiveRain.  Great posts.  Welcome aboard.

Oct 09, 2012 12:33 PM #13
Justin Johnson
Johnson & Johnson Real Estate Group - Roseville, CA
I will always answer your call.

Thank you everyone....

Oct 09, 2012 01:22 PM #14
Dana Basiliere
Rossi & Riina Real Estate - Williston, VT
Making deals "Happen"

Hello Justin and welcome!! It looks like you are kicking it up in the foreclosure market. Good luck!

Oct 12, 2012 05:13 AM #15
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