Plus, California’s largest housing association takes aim at Coronado for blocking granny flats, high-end home prices are skyrocketing, and the number of equity-rich homeowners soars.
California home sales were the best since May 2009 and prices increased by double digits for the fifth straight month.
Record-low mortgage rates coupled with the COVID pandemic are causing a huge demand for homes — and increasing prices.
Home prices reached a record for the fourth consecutive month in September, and the most homes sold in more than a decade.
What pandemic or recession? Home prices reach a new record, thanks to the lowest-ever mortgage rates.