Leslie Appleton-Young, Chief Economist
California Assoc. of Realtors
 2011 Projections and Economic Data

2011 California Housing Forecast

Summary
- Number of home sales statewide projected to increase by +2%
- Median price to increase by +2%
- Interest rates will likely increase

 
-  Median prices peaked in Summer 2007 and bottomed Summer 2009 in L.A. County


The untold part of the foreclosure story is excessive borrowing against home equity.
39% of new defaults from 2006 to 2008 were attributable to home equity borrowing.


Of homes sold in 2010:
The percentage of distressed sales decreased
Sales to investors continues to grow
Share of first time buyers remains high
51% received multiple offers (average of 4 offers)
23% were all cash transactions
30% of sellers sold at a loss


See full set of charts below:
Full Forecast, Economic Data & Home Sale Stats

L.A. County and South Bay Real Estate Stats
California Statewide Real Estate Stats
U.S. and California General Economic Data
2009 Housing Market Survey