Fall brings a big chill to the housing market in September, with sales falling 30%
News

Fall brings a big chill to the housing market in September, with sales falling 30%

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…

Foreign buyers are spending more, buying less in California
CHN Blog

Foreign buyers are spending more, buying less in California

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,…

Home sales plunge 31% in July with higher mortgage rates
News

Home sales plunge 31% in July with higher mortgage rates

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…

California home sales
News

March madness: Home prices surge to a record, sales slow with higher rates

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…