First Time Home Buyers
Well, according to the California Association of Realtors (CAR), quite a bit will happen in real estate in 2025:
- Existing, single-family home sales are forecast to total 304,400 units in 2025, an increase of 10.5 percent from 2024’s projected pace of 275,400.
- California’s median home price is forecast to climb 4.6 percent to $909,400 in 2025, following a projected 6.8 percent increase to $869,500 in 2024 from 2023’s $814,000.
- Housing affordability* is expected to remain stable at 16 percent next year after slipping to a projected 16 percent in 2024 from 17 percent in 2023
One group of potential buyers has been particularly negatively affected by the market the last two years-first time buyers. Because of low inventory and competition from better qualified buyers, they have had a very hard time. As many of you know, we have a strong affinity and substantial expertise in working for first time buyers (in fact many of you first met us as first time buyers!). If you know anyone interested in that first purchase, please send them our way. We would be glad to help them realize the dream of being a homeowner
There are opportunities for both buyers and sellers. We can help you make the best decisions for you and your families. Please call 949-500-6365, email Frank@FrankDiLauro.com, or through our website www.FrankDiLauro.com.
