C.A.R. 2012 California Housing Market Forecast

2012 will be another transition year for the California housing market, as the continued uncertainty about the U.S. financial system, job growth, and the stability of the overall economy remain in the forefront for all market participants, said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. An improvement in job growth, consumer spending, and corresponding gains in housing are essential to a broader recovery in the economy, but would-be buyers will remain cautious as they weigh these myriad uncertainties against the clear opportunities presented by today's very affordable housing market. The most likely scenario is for the modest recovery to continue, and this should push sales up slightly next year by 1 percent and maintain levels that are significantly higher than those recorded during the depths of the housing downturn. The wild cards for 2012 are many, including federal, fiscal, monetary, and housing policies; the contentious political climate during an election year; and the strength of the U.S. economic recovery, said Appleton-Young. Appleton-Young will present an expanded forecast Wednesday afternoon during CALIFORNIA REALTOR¨ EXPO 2011 (http://expo.car.org/), running from Sept. 20-22 at the San Jose McEnery Convention Center in San Jose, Calif. The trade show attracts nearly 6,500 attendees and is the largest state real estate trade show in the nation. Don't miss Why Lenders CanÕt Lend: The Economic Perspective during CALIFORNIA REALTOR¨ EXPO 2011. C.A.R. Vice President and Chief Economist Leslie Appleton-Young will moderate a panel of renowned economists as they delve into the front- and-center issue facing the market and REALTORS¨ next year. The panel is scheduled to be held Thursday, Sept. 22, from 2 p.m. Ð 3:30 p.m. at the San Jose Convention Center.

2012 Forecast Leading the way...¨ in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS¨ (www.car.org)

This study has been updated monthly on the Investor Resource page

Senior Real Estate Specialist