November 2020 California Housing Sentiment Index.
The Lawhead Team would like to share the latest “One Cool Thing” about this month’s housing sentiment in California:
Each month California Association of Realtors surveys 1,000 California consumers regarding their sentiments about various aspects of the housing market or the economy that directly impact housing to create a California Housing Sentiment Index. The results of the individual indicators are combined into an equally-weighted diffusion index (where anything over 100 represents a net positive sentiment across the indicators, and anything below 100 represents a net negative sentiment).
Is now a good time to sell a home? 59% of the people asked said yes.
Is it a good time to buy a home? 31% said yes while 69% said no.
Will it be easier to find a home over the next 12 months? 37% say yes and 63% say no.
Do you plan to purchase a home in the next 12 months? 93% said no they do not.
Do you think home prices will rise in the next 12 months? 53% said yes and 47% said no.
Will overall economic conditions improve in California in the next 12 months? 57% said no.
Will interest rates fall in the next 12 months? 54% said no.
Do you think it is a good time to buy a home? 31% said yes.
Do you think it is a good time to sell a home? 59% said yes.