Bill could cut security deposits for apartments and rental homes in half, saving renters thousands of dollars
California homebuyers in March paid a lot more than those who rent — including more than twice as much in the Bay Area. Also, higher rates leads to a dramatic drop in mortgages.
More families were able to buy a home in the first quarter, if they could find one for sale
Lower home prices and mortgage rates made buying a home slightly more affordable during the first quarter. Also, more than half of renters pay more than 30% of their household income on rent, a financial challenge for many low-income families. And the Best Places to Live in California.
California adds 123,000 homes, the best since the Great Recession
California has enjoyed a mini-boom in new-home construction despite more people leaving the state. Also, home prices are dipping lower with higher mortgage rates, Redfin and Zillow enter the ChatGPT world and home equity drops slightly.
Luxury home sales lose their shine in the Golden State
Also, the voter-approved, wealthy-abhorred mansion tax has started in Los Angeles. And the percentage of single women who own homes declined in 2022.
More homeowners are putting down deep roots and staying put
Big prices likely encourage more Californians to stay in their homes longer, a federal bill could cut capital tax gains related to home sales and mortgage applications plummet.
Ontario Ranch top master-planned community in California, followed by Valencia
Home sales in master-planned communities continued to decline in 2022, as higher mortgage rates and supply shortages hurt many of the largest developments in California.
More high-end homes available as sales plummet in California
Guess what? The rich are just like us, at least when it comes to higher mortgage rates and watching Wall Street — and how those affect homebuying decisions. Also, Uncle Sam raises the conforming loan limit to more than $1 million in some California regions and seven cities in the state get props for housing efforts.
More buyers are asking for — and getting — concessions from sellers
Like the house but not the bad carpet or the decades-old heating and cooling system? Homeowners are more willing to make a deal to sell their home. Also, Wells Fargo Bank pulls back on the mortgage business. And six of the 10 happiest cities in the country are in California.
California has the most at-risk markets in the U.S.
Inland communities, from Chico to Riverside-San Bernardino counties, are the most at-risk housing markets in California.
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…
Affordability tumbles to a 15-year low and the majority of homes for sale are ‘stale’
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.