Temecula, CA, May 08, 2018 --(PR.com
)-- Southwest Riverside County Housing Market Report - Residential Re-sale pricing report for (May 2018). Housing inventory and rental availability remains extremely tight for the foreseeable future and expect the same over the next 24 months, in all areas of Southwest Riverside. The Temecula Valley is experiencing the highest price pressures due to very low inventories. Many Buyers are hoping for a correction, and that home price will go down in 2020 but its not likely. Home prices are rising on average 12% per annum in many areas, and many homes values are now just recovering from the Great Recession. Dan Summers of the Dan Summers Real Estate Group at Keller Williams Realty
stated that the Housing Market is "very likely to continue its price run over the next two years in Southwest Riverside housing market and will more than likely continue with the shortage of new and existing home during this continued path of upward pricing pressures." Impacting First-time Buyers that are hoping for a correction in 2020 may get a 10% cyclic correct, A cyclic correction will not stop the higher prices due to the shortage of homes in Southern California. That same home in 2020 will cost the 1st time home buyer 14% net more than today's average prices if the purchaser waits.
The lifestyle and family living that has been created by the Civic Leaders of the Cities of Temecula, Murrieta, Wildomar, Menifee has made Southwest Riverside, CA a mecca for new families - most cited is the quality of schools and safety.