Is 2018 good time to buy a home in california

Is 2018 Good Time To Buy A Home In California?

Most of the home buyers have the same question to ask is 2018 a good time to buy a house in California?

To answer this query is not easy as plenty of variables linked to it.

Is this a good year to buy my first home in California? Should I buy now, in 2017, or down the road in 2018? What is the real estate market like right now?

According to the top realtor USA, there is no simple answer to this complex question. As it majorly depends on where in California you are looking and what type of home opportunities you are looking at. If you are also running with these questions or planning to move to new house, let me tell you real estate market conditions in California are not very much complimentary.

Real estate prices have increased spectacularly in the past few years. In addition to this even the rental prices have increased as well. Home Rates are lower now than at the beginning of 2017, but it is highly expected that prices will be higher in new January of 2018.

If you have reasonably stable income, right now (in 2017) might be a good time to buy a house in California. According to the top home realtors, a current time is an ideal to get engage in the buying process. Coming weeks and months is the perfect time to sell and purchase in California. But things will be tighter and difficult in 2018.

Real estate market is really dreadfully difficult and prices are also dramatic in California. I am sharing most recent real estate market information (month of June) which gathered online from different sources. Before planning to buy and sell have a look at the highlights of this recent real estate report.     

There are more renters now than in the last 30 years.

Homes are at their highest value ever.

Foreign buyers buying record number of properties.

New Houses for sale dropped 3.4% in August month.

Resale houses for sale drop in the month of August.

Here’s some recent Housing Market Average Home Price:           

Vallejo - CA$355,000 Kennewick - CA$225,000 San Francisco - CA$1,300,000 San Jose - CA$840,000 San Diego - CA$555,000 Stockton - CA$250,000 Columbus - OH$150,000 Fort Wayne - IN$50,000 Fresno - CA$23,000 Yuba City - CA$269,000 Santa Cruz - CA$775,000 Santa Rosa - CA$530,000

Here are few Reasons or the advantages why people are still enthusiastic to purchase property in California: 

Home prices are valuable.

    

Rental prices are also high. It returns property owners outstanding return on investment on rental properties.

Flips of older properties continue to generate amazing returns.

The risk involved in real property is less.

The economy is steady or improving.

In spite of the home prices have jumped to a higher level even foreigner are eager to own property.

Loads of properties around California is sitting unoccupied due to multiple competing bids and higher prices. To afford a detached, single-family home is become a big deal.

Mortgage rates were dropped at the beginning of the year of 2017 but according to the economist mortgage prices will go on to mount and will give more challenges to the home buyers in USA. It’s predicted that mortgage rates will remain above 4 percent but not go beyond 5 percent and there’s a high chance that mortgage rates could be higher in 2018 than they are now.

And it is also estimated that the inventory of homes for sale is expected to be tighter in next years.

It’s just the overall prediction of the future housing market. Prices will be raised in coming years but complete accuracy is still concealing for experts.

Source: https://fastexpertinc.jimdo.com/2017/11/29/is-2018-good-time-to-buy-a-homein-california/