2011 Homes Sales Forecast

According to the CaliforniaAssociation of Realtors the state’s existing home sales market is expected to end 2010 on a low note with only a slight improvement next year. Overall, the numbers show we have had a decline of 10 percent compared with 2009, CAR predicted in its forecast for next year a gain of only 2 percent. Statewide sales are project to come in at the end of the year at 492,000 compared with 546500 in 2009. Bear in mind this is the projected forecast for the entire state. When you focus on our local market here in Silicon Valley we tend to fair much better than other areas of the state. Even though inventory levels are low, competition for existing  Short Sale and REO properties continues to remain strong.     

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