There are Reasons for Optimism and High Expectations for 2021

Even with elevated unemployment numbers, California’s housing market has outperformed expectations in 2020, and there are reasons to be optimistic about 2021.

Home sales are continuing to rise by double-digits compared to 2019 levels, and C.A.R.’s pending sales index indicates that pace will continue through at least November. Plus, C.A.R.’s forecast calls for even more home sales in 2021. Home prices are continuing to set new records, and the unseasonably strong market means sellers are likely to keep commanding higher prices into the winter.