CHN Blog: January is the new April for home shopping
More consumers are starting their home search in January — and what that means for you.
Also in the latest blog
Fewer homes, higher prices in November
Active listings declined for the fifth straight month in November, giving home-sellers another month of many thanks (and dollars).
Home affordability improves in third quarter, sort of
Bigger paychecks and smaller mortgage rates help, but only 31% of household could afford to purchase during the third quarter.
What regions are most at risk for wildfires?
Nine of the nation’s 15 metro regions with the highest risk of wildfires are in California, threatening the state’s residents and economy.
Big cities, small spaces for renters in some cities
Rents are bigger while living spaces are shrinking. Pint-sized units are all that many consumers can afford in several cities in California.
Housing by the numbers
Mortgage rates
The new year brought little change to mortgage rates for the week ending Jan. 2.
30-year: 3.72% vs. 3.74% a week ago
15-year: 3.16% vs. 3.19% a week ago
Source: Freddie Mac
A decade of price gains
California’s median home price reached $605,280 in October, a 42% increase from the $427,180 in 2009.
Homeownership rate in state
California’s homeownership rate was 54.8% in third-quarter 2019, 10 percentage points below the national average.
Other news
Economists and real estate experts say several California cities could endure lower home prices and values. Also, impressive home price growth during the past decade and affordability is a major problem in the state.
New calendar, new home for many home-shoppers. Also, rent control starts, Fannie and Freddie less friendly, home equity growth takes a break and home-flipping profits tumble.
Active listings dropped for the fifth straight month, forcing buyers to pay more with the slumping supply and the surging demand.
About one of every thee mobile homeowners have the wrong title. A program aims to fix the issue and has been extended until Dec. 31, 2020.
Federal housing finance agency approves higher lending limits for mortgages, buying a home in December is a savings gift and soaring rents result in less space.
A tale of two markets when it comes to luxury home prices. Also, Bay Area home sellers net nifty profits and apartment rents in California among most expensive in U.S.