California Real Estate Market: Updated Forecast & Trends

Market Report provided by Norada

What are the California real estate market predictions for 2020? California housing market is shaping up to continue the trend of the last few years as one of the hottest markets in the U.S. Let us look at the price trends recorded by Zillow over the past few years. From the beginning of the year 2012 to the end of 2019, the median home price in California appreciated by a massive 85.5%, from $305,000 to $566,000. Currently, the median home value in California is $586,659. This value is seasonally adjusted to remove outliers and only includes the middle price-tier of homes. California home values have gone up 6.8% over the past year. The forecast for California’s housing market in 2021 is relatively favorable but things could change, given the seriousness of the pandemic.