CALIFORNIA HOUSING

MARKET FORECAST
June 2016

U.S. HOUSING MARKET OUTLOOK

ES: U.S. Existing home sales of single-family homes and condo/coops

RCE: NATIONAL ASSOCIATION OF REALTORS

CALIFORNIA HOUSING MARKET OUTLOOK

SERIES: CA Housing Market Outlook

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

SALES UP FOR 2015 AND CONTINUE TO IMPROVE IN

2016; PRICE WILL GROW STEADILY THIS YEAR AND
NEXT
Sales of Existing Detached Homes

Median Price

Units
(Thousand)

Price
(Thousand)

700,000

$600,000

600,000

$500,000

500,000
400,000

412,250.0
407,060.0

$400,000
$300,000

300,000
200,000
100,000
0

SERIES: CA Housing Market Outlook

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

$200,000
$100,000
$0

$498,140
$474,420

CA: DOLLAR VOLUME

UP 12.9% IN 2015, UP 6.3% IN 2016
$ in Billion

% Change
$ Volume of Sales

Percent Change

$400

30%

$350

20%

$300
$250
$200
$150

$301
10%

-60%

$244

$193

$205 0%

$169 $171

$164
$133 $131 $127
$121

$140

-10%
-20%

$100
$50

-30%

$0

-40%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015p2016f

SERIES: CA Housing Market Outlook

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

U.S. ECONOMIC OUTLOOK

SERIES: U.S. Economic Outlook

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

CALIFORNIA ECONOMIC OUTLOOK

SERIES: CA Economic Outlook

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS