2017 First Quarter Review
*Article from car.org
“California’s spring housing market posted a strong start to the year as existing home sales and
median price registered healthy gains in March on both a monthly and annual basis, as did every
the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)
“March’s solid sales performance was likely influenced by the specter of higher interest rates, which may have pushed buyers off the sidelines and close escrow before rates moved higher,” said C.A.R. President Geoff McIntosh.
“The strong housing demand, coupled with a shortage of available homes
for sale, is pushing prices higher as would-be buyers try to purchase before affordability gets worse.”
“The spring homebuying season is off to a good start, as the economic and market fundamentals
said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young.
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