California home sales plummet to the lowest level since 2008 and prices decline for the second consecutive month.
Higher mortgage rates are affecting home prices, but fewer buyers are able to afford a home as the monthly mortgage payment has increased by at least 33% in California.
Higher mortgage rates slam the door on many wanna-be buyers California’s once red-hot housing market entered a deep freeze in September, as the change in the season brought a lot more concern from home shoppers about fast-rising mortgage rates and economic uncertainty. As mortgage rates climbed to the highest level in 20 years, home sales…
Higher mortgage rates are acting like a bucket of ice on the once red-hot housing market, with sales and prices falling significantly next year.
Inland communities, from Chico to Riverside-San Bernardino counties, are the most at-risk housing markets in California.
A short-lived drop in mortgage rates bumped prices and sales, but both will continue to slow in the coming months.
Higher rates are causing many home shoppers to pull back on their plans, with mortgage activity plummeting during the second quarter. But those who are buying, are putting down record-setting down payments.
Institutional investors have been crunching data and finding out that buying and leasing out homes does not generate the same head-turning returns.
Bad credit, no down payment? No problem. Bank of America announces plan to help first-time buyers in some Black and Latino neighborhoods in Los Angeles.
More foreigners are discovering America, again. Well, the nation’s real estate to be more specific. Foreign investors bought a combined $59 billion of homes in the United States from April 2021 through March 2022, an 8.5% increase from the previous year and ending a three-year skid of slumping sales. Record-high prices – from Portland, Maine,…
California home sales slowed for the fourth consecutive month in July, as higher interest rates and near-record-high prices are affecting affordability and causing more home shoppers to hold off. Sales tumbled to an adjusted annualized rate of 295,460 homes in July, a 14.4% decline compared to June and off a staggering 31.1% from a year…
Higher mortgage rates are affecting the number of households that can buy a home, with the Bay Area now more affordable than other regions in the state.
From the Bay Area to San Diego, many homeowners are equity rich than mortgage poor, thanks to record-high prices.
Higher mortgage rates will cause price gains to slow — and possibly dip — as sales slow.
Higher mortgage rates are cooling off the red-hot housing market, and several California cities are among the most at risk for fewer sales and sliding prices. Three of the 10 cities most likely to experience a decline in home prices are in California – and seven of the top 20, according to Redfin. The Inland…
Affordability and appreciation are possible in California. At least in some of the cities listed by the Wall Street Journal/Realtor.com Emerging Markets report.
Higher mortgage dropped sales to the lowest level since 2008, as the once red-hot market cooled down in June.
The Golden State boasted some of the biggest home price gains during the past two years. But higher rates could tarnish some of those equity gains.
California’s once red-hot housing market has cooled down this summer, largely because of higher mortgage rates and lower share prices on Wall Street.
One of every three homes sold in California topped $1 million in the first month of spring Homebuyers played beat-the-higher mortgage rates and created some March madness, lifting home prices to a record of almost $850,000 – and sending a clear message that the hot housing market is far from cooling down. An adjusted annualized…