Expect Double Digit Appreciation by the End of Next Year
Nation-wide, home prices have appreciated 10.1% this year and California has led the way, occupying four of the top five market positions, with Sacramento taking first place (25.9%) and Oakland (23.7%), San Jose (21.9%), and Los Angeles (20.3%) taking third through fifth. Only Las Vegas (24.7%) stood in the way of a Golden State grand slam.
CoreLogic Case Schiller, who performed the analysis, expects appreciation to slow to 5.4% in 2014 and to average 3.4% per year over the next 5 years. They also note that trade-up buyers have finally re-entered the market and investor purchases are waning as fewer distressed homes are available.
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