IE Business Daily Business news for the Inland Empire.
Anyone looking to buy or sell a home in California in 2027 should have an easier time doing so than they would have during the past several years.
Sales of single-family homes are expected to reach 277,900 units next year, a 3.7 percent increase, and well above the 268,100 units predicted earlier this year, according to the California Association of Realtors.
California’s median home price will rise 1.4 percent to $894,400 in 2027, while housing affordability – the percentage of households able to buy a median-priced home – will remain at 20 percent.
“We’ll start to see market conditions move in a more positive direction for homebuyers and sellers next year,” Tamara Suminski, association president, in the statement. “At the same time, an improved but still limited availability of homes for sale will contribute to continued strength in home prices.
“As confidence picks up and mortgage rates ease, we expect more people who have been waiting on the sidelines to make their move in 2027.”
