Anew forecast by John Burns Real estate Consulting has an overall positive look for the housing market with increased buyer demand, higher incomes and home price increases by over 12 precent.
Locally, the forecast is for home prices to increase over the next three years before declining in 2020. The East bay is predicted to have a home price growth of 3.7 precent.
Not surprisingly, home affordability will remain an issue. The Home Value Index sees San Francisco (27 percent), San Jose (23 precent) and the East Bay (22 precent) as overvalued.