Real Estate Forecast Next 5 Years California

California's housing market faces challenges in 2024 due to rising mortgage rates and a persistent lack of inventory. Price predictions suggest a modest increase in median home prices. Factors like interest rates and emerging trends such as iBuyers and shifting demographics will impact the market. Policy changes, like rent control and regulations on short-term rentals, could also influence the housing landscape. The 2024 forecast anticipates a rebound in the housing market with increased home sales and a rise in median home prices driven by declining mortgage rates.