Experts say the real estate market in Chino Hills, CA will only continue to expand.
Anyone who has been concerned about the longevity of the growth in the real estate market in Chino Hills, CA has been silenced. A recent report from the Urban Land Institute Center for Capital Markets and Real Estate, titled the Real Estate Consensus Forecast, gives a semiannual appraisal of the real estate market based off survey responses from almost a hundred top analysts and economists in the industry.
The latest report, released on September 30th, reveals that we can expect healthy, consistent growth in the real estate market through 2017. The majority of measured real estate indicators are projected to outperform their 20-year averages before the end of the year. That growth is anticipated to continue through 2016 and last through the remainder in 2017.
Specifically, the Forecast projects that single-family housing starts will hit 745,000 before 2016 begins. It also predicts 842,000 of those starts in 2016 and 900,000 in 2017. Home prices are also expected to increase, hitting 5.0 percent by the year’s end, 4.3 percent in 2016, and 3.9 percent in 2017.
The numbers bode well for our real estate market, as do the fact that September’s report is more optimistic that the previous report released in April 2015. Experts have confidence that the market will continue to grow at a consistent pace and have had that confidence bolstered by the market’s performance in the last six months.
If you would like more information about projected growth in our real estate market in Chino Hills, CA contact John & Michelle. We’re keeping our finger on the pulse of market movement so we can keep you informed about the right time to buy and sell. If you’d like to talk to an expert about what you can reasonably expect for our local market, call us today!