Equity Assets Real Estate Says 2020 California Housing Forecast Similar to 2019

January 16, 2020 - /PressAdvantage/ - California: Jason Nenadov of Equity Assets Real Estate recently shared his projections for the 2020 California housing market. On his website, the seasoned Realtor provided figures based on the California Association of Realtors 2020 Housing Market Forecast and revealed that the 2020 market would be more or less similar to that of 2019, although this year could see an increase in home values.

“The 2020 forecast calls for a small 0.8% uptick in the number of units sold compared to 2019,” he said. “The projections for 2019 were that 390,200 units would be moved. The 2020 forecast calls for 393,500 housing units expected to change hands statewide,” he added.

Jason Nenadov said the median sale price of homes in California this 2020 would be $607,900, a 2.5% increase over 2019. Overall, prices will reportedly cool off with a slight bump up in the number of homes sold. “In summary, slightly more homes will change hands in 2020 and home values are expected to increase at a rate of about 60% of what they increased last year,” he said.

According to Jason Nenadov, the California housing market should remain a seller’s market even with the slight uptick in the number of transactions because of the 2.5% increase in home values. He explained that the 0.8% uptick in the number of transactions this year would not be enough to create a buyer’s market, especially with home values increasing. He also added that with more red tape, there could be fewer homes for sale in California in 2020, keeping the market in the seller’s corner even more.

In the 2020 California Housing Forecast, C.A.R. President Jared Martin discussed some of the other factors weighing in on the California housing market this 2020. “With interest rates expected to remain near three-year lows, buyers have more purchasing power than in years past, but they may be reluctant to get off the sidelines because of economic and market uncertainties,” said Martin.

Martin also added that an affordability crunch would cut into demand in certain regions, particularly in the Bay Area, where affordability is significantly below state and national levels. “These factors together will subdue sales growth next year,” he said.

Jason Nenadov said if there is one thing homebuyers could take advantage of this year, it’s the low interest rates. This 2020, C.A.R. is projecting 30-year fixed mortgage rates to hit 3.7%, the lowest since 2016. With rates this low, homeowners are expected to refinance as homebuyers lock in on historically low interest rates.

C.A.R. noted, however, that California’s housing market would be challenged by changing migration patterns. According to C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young, homebuyers are likely to search for more affordable housing markets and move out of state. “With California’s job and population growth rates tapering, the state’s affordability crisis is having a negative impact on the state economically as we lose the workers we need most such as service and construction workers, and teachers,” she said.

Towards the end of his article, Jason Nenadov said the 2020 elections for the POTUS is something to watch out for this year, as it would greatly affect the stock market and the housing market and could be an X-factor in the 2020 projections.

Those who need a Realtor they can trust in Fresno and Clovis, CA, call Jason Nenadov at 559-246-8991 today or visit his website at www.equityassetsrealestate.com.

More About Jason Nenadov:

After spending his grade school years in the foothills of Madera County, Jason relocated to southern California with his family to settle in Fresno/Clovis. He graduated with a Bachelor’s Degree from The Master’s University and eventually learned the importance of owning real estate because of his father. Four years after getting his California Real Estate license in 2004, he decided to establish Equity Assets Real Estate.

About Equity Assets Real Estate:

Established in 2008, Equity Assets Real Estate is an “old school” real estate company with “new school marketing.” It caters to home sellers and buyers in Clovis, Fresno, and Madera Counties and focuses on residential real estate. Equity Assets Real Estate boasts of its team of real estate professionals with an unparalleled commitment to serving their clients.


For more information about Equity Assets Real Estate, contact the company here:

Equity Assets Real Estate
Jason Nenadov
1028 N. Citadel Ave., Clovis CA 93611

ReleaseID: 60033733

More News From tech.aseancoverage.com

Chinese report says illnesses may be from new coronavirus

Feb 24, 2020

BEIJING — A preliminary investigation into viral pneumonia illnesses sickening dozens of people in and around China has identified the possible cause as a new type of coronavirus, state media said Thursday. Chinese health authorities did not immediately confirm the report from state broadcaster CCTV. Coronaviruses are spread through coughing or sneezing or by touching an infected person. Some cause the common cold and others can lead to more severe respiratory diseases, such as SARS and MERS. Such viruses are common in people but more exotic versions from bats, camels and other animals have caused severe illness. The novel coronavirus...

China says US has 'weaponized' visas to target exchanges

Feb 24, 2020

BEIJING — China on Wednesday accused the U.S. of having "weaponized" the issuance of visas following the reported inability of a top Chinese space program official to obtain permission to travel to a key conference in Washington. Foreign Ministry spokeswoman Hua Chunying told reporters that the head of the Chinese delegation to the International Astronautical Congress wasn't able to obtain a visa following an Oct. 12 interview, making it difficult for Chinese representatives to attend important events at the meeting. Reports said the vice chairman of the China National Space Administration, Wu Yanhua, had planned to attend the congress. Hua...

China criticizes Apple for app that tracks Hong Kong police

Feb 24, 2020

HONG KONG — Apple became the latest company targeted for Chinese pressure over protests in Hong Kong after the ruling Communist Party's main newspaper criticized the tech giant Wednesday for a smartphone app that allows activists to report police movements. HKmap.live, designed by an outside supplier and available on Apple Inc.'s online store, "facilitates illegal behavior," the People's Daily said in a commentary. "Is Apple guiding Hong Kong thugs?" the newspaper said. Beijing has pressed companies including Hong Kong's Cathay Pacific Airways to take the government's side against the protests, which are in their fourth month. Apple didn't immediately respond...

Japan spacecraft releases rover to asteroid in last mission

Feb 24, 2020

TOKYO — Japan’s Hayabusa2 spacecraft released a small rover on Thursday that will land on the surface of an asteroid as part its final mission before heading back to Earth, Japan’s space agency said. The Minerva-II2 rover began a slow descent to the asteroid Ryugu, the Japan Aerospace Exploration Agency, or JAXA, said. Hayabusa2 arrived in the area in June 2018. It has collected soil samples and other data from the asteroid 300 million kilometers (180 million miles) from Earth in a series of missions aimed at obtaining clues to the origin of the solar system. The spacecraft released the...

NASA chief says security needed to explore space safely

Feb 24, 2020

TOKYO — The head of NASA says space security is necessary so that the United States, Japan and others can safely explore the moon and Mars. NASA Administrator Jim Bridenstine said Wednesday that gadgets using space technology have become indispensable parts of people's lives and their safety must be preserved. Japan and the U.S. have long cooperated in space science, including the ongoing International Space Station program. On Tuesday, NASA and the Japan Aerospace Exploration Agency, or JAXA, confirmed Japan's participation in America's lunar and Mars exploration projects, including an Artemis lunar mission. Bridenstine is in Japan to gain Japanese...

AseanCoverage is a next-gen news site focusing exclusively on online news from South East Asia.

Contact us: sales[at]aseancoverage.com