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Cristal Clarke, who is based in Santa Barbara, told the personal finance website that sales of houses are projected to spike 10.5 percent, or 304,400 units, citing forecast data from the California Association of Realtors. The association also predicted a typical 30-year mortgage rate would drop below 6 percent in 2025, Clarke told GOBankingRates.
“With CAR predicting an increase of active listings by over 10%, prospective buyers will encounter a more balanced market where they can negotiate more freely and potentially avoid the intense bidding wars of recent years,” Clarke said, the website reported.
Home prices are also expected to rise more slowly at 4.6 percent than they have recently, she told GOBankingRates.
“By purchasing in 2025, buyers have the potential to lock in properties at competitive prices and enjoy appreciation as demand remains strong, driven by limited inventory and continued desirability,” Clarke said, according to the website.