Real Estate Forecast Next 5 Years California: Crash or Boom?

The California real estate market is expected to undergo significant changes over the next five years due to population growth, economic conditions, and housing supply challenges. Limited inventory is driving home prices up, with a predicted 6.2% increase in 2024. The market may see a rise in iBuyers and shifts in buyer demographics, particularly among Millennials and Gen Z. Interest rates are anticipated to decline, potentially boosting buyer demand. Despite these trends, affordability remains a critical issue, with only 16% of households able to afford a median-priced home.