Real estate · Industry brief

California's real estate market is forecast to show modest recovery in 2027, with existing single-family home sales projected to increase 3.7 percent to 277,900 units and median home prices rising 1.4 percent to $894,400, according to the California Association of Realtors' 2027 housing forecast released October 7, 2027. Housing affordability is expected to remain stable at 20 percent as inventory conditions gradually improve, though a continued shortage of homes for sale will support price strength and limit overall market growth. The forecast projects 30-year fixed mortgage rates will hold steady at 6.6 percent through 2027 while unemployment dips to 5.4 percent and inflation moderates to 2.4 percent annually. [Source: car]

Real Estate Transactions [Source: prnewswire]

Fairfax Financial Holdings Limited and Wittington Investments Limited agreed to acquire Boots in a USD8.9 billion transaction, with Fairfax committing approximately USD2.3 billion toward the purchase price. The deal includes Boots' retail operations in the UK and Ireland, Boots Opticians, No7 Beauty, and Thailand and franchised businesses, with each partner owning 50% upon closing. The transaction is expected to close in Q1 2027, subject to customary closing conditions including antitrust approvals. A&O Shearman is advising Fairfax on the acquisition, with the deal team led by M&A partners Sean Skiffington and Nick Withers. [Source: aoshearman]