Real estate
fromwww.housingwire.com
2 months agoHousing executives mixed on affordability, home sales expectations
The majority of respondents do not expect sub-6% mortgage rates until 2026 or later, projecting modest home sales growth for 2025.
This fiscal event comes amid economic uncertainty, prompting the government to adjust tax and spend plans, particularly in response to changing economic forecasts and increased borrowing costs.
"With the statewide median price expected to increase around 5% next year, housing affordability, in general, will not change much if at all in the coming quarters," Oscar Wei, deputy chief economist for the California Association of Realtors, told SFGATE.