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.
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.
Inland communities, from Chico to Riverside-San Bernardino counties, are the most at-risk housing markets 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,…
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.