California’s Change in Sales by Price Range

Limited inventory has led to sharp price increases over the past year. Where is the market heading now? C.A.R. Chief Economist Leslie Appleton-Young says that “we should continue to see strong price growth but at a less accelerated pace than what we’ve experienced over the past year. Inventory levels are starting to build in some areas as price gains free up previously underwater homes and encourage homeowners reluctant to list because of the scarcity of homes to purchase.”