AgentIndustry News

California Realtors optimistic about 2016, delighted with 2015

Two CAR reports say market, optimism increased in the industry
  • The most recent CAR survey shows strong end to 2015, although seasonality has taken hold.
  • The Market Pulse Survey shows most Realtors in California are optimistic about 2016.
  • Distressed sales have slid statewide.

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The California Association of Realtors (CAR) publishes two reports at about the same time each month-- performance of the market, and the Market Pulse Survey of the people who work in it. The Pulse survey gauges, for one thing, how optimistic Realtors are about the future of the housing market. When asked about next year’s housing market, the vast majority (89 percent) of the respondents expect similar or better market conditions in 2016, the highest share reporting that sentiment since spring 2015. On the performance side of the reporting, pending home sales in California continued to improve from a year ago with solid gains, which will position the market for a modest increase in home sales in 2016. The Market Pulse Survey also noted a small decrease in the number of sales with multiple offers compared with November. It also noted that there were fewer offers received. The average number of offers per property was 2.5 in December, down from 2.7 in November and 2.6 ...