Mortgage rates may be at the lowest rate in three years, but affordability dropped in the second quarter and remains a major concern for the housing market.
The lowest mortgage rates in about three years helped the housing market rebound in July, with the most sales in 15 months.
California home sales dropped in June, despite the lowest mortgage rates in three years, helping boost the buying power of many consumers.
Lower mortgage rates helped the housing market in May, as home sales topped 400,000 units for the first time in 10 months.
April home sales decline despite a boost in listings and lower mortgage rates, but prices climb to a record causing many would-be buyers to hold off.
Almost one of every three households could afford to buy the median-priced home during the fourth quarter, thanks to lower mortgage rates and stable prices.
Spring brought some much-needed life to the housing market, as home buyers embraced lower mortgage rates and more home listings. Home prices reached the highest level since October 2018.
An increase in homes on the market and lower mortgage rates helped home sales rebound in February, ending several months of a staggering market.
California home sales dropped to the lowest level since April 2008, as would-be buyers hold off on purchasing despite a drop in long-term mortgage rates and prices.
More families could afford to buy a home during the fourth quarter than the previous three-month period, as falling home prices helped ease the pain of higher mortgage rates.
Affordability and increasing mortgage rates continue to hurt the housing market, as home sales in December dropped to the lowest level in almost four years.
California's once red-hot housing market is cooling, with home sales and fast-rising prices expected to slow in 2019.
Home sales continued to decline in November, falling for the seventh consecutive month and raising concerns among homeowners and those in the real estate industry.
Declining affordability and increasing mortgage rates packed a powerful one-two punch in October, as sales slowed for the seventh straight month in California.
More stable home prices and mortgage rates improved affordability slightly during the third quarter, but still only 27% of families can afford to buy a home.
Affordability has become a serious concern for would-be buyers, as interest rates near 5%, causing sales to slide plummet statewide.