Bay Area Real Estate Forecast: 2018 and Beyond

Pacific Union’s fourth annual Real Estate and Economic Forecast featured these key points:

  • The median home price in the Bay Area averaged 9 percent over 2016. These is no reason to believe this trend will not continue
  • Job growth remains strong although the increase in lower income groups is a negative for affordability
  • Proposed tax changes could reduce buyers’ deductions in the future, making it more expensive to buy
  • Proposed tax changes could also keep current homeowners from selling thereby limiting inventory even further
  • Home prices in Alameda and Contra Costa counties are projected to grow by 5 percent from 2018 to 2020
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