2019 Economic & Housing Market Forecast

Home sales in California are projected to rise to 428,300 units in 2018, a slight increase of 1.0 percent from 2017.  Tight supply and low housing affordability continue to hinder market growth and put upward pressure on home prices. The statewide median price of existing single-family homes is expected to reach $582,000, an increase of 8.2 percent in 2018 when compared to the prior year.