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California housing market will rebound in 2024 as mortgage rates ebb.
C.A.R. releases its 2024 California Housing Market Forecast California housing market will rebound in 2024 as mortgage rates ebb. Existing, single-family home sales are forecast to total 327,100 units in 2024, an increase of 22.9 percent from 2023’s projected pace of...
California housing affordability slides to lowest level in nearly 16 years during second-quarter 2023, C.A.R. reports
California housing affordability slides to lowest level in nearly 16 years during second-quarter 2023, C.A.R. reports Aug 11, 2023 - Housing affordability in California hit a 16-year low in Q2 2023. Only 16% of households could afford the median-priced home of...
California Housing Market: Unpacking the Latest Shifts
California Housing Market: Unpacking the Latest Shifts Aug 8, 2023 - The California housing market is in flux, with mortgage rates near their peak and a dip in summer sales. Yet, as the job market finds balance and CEOs grow hopeful, there's potential for a brighter...
Elevated borrowing costs suppress California home sales to the lowest level in 16 years
Elevated borrowing costs suppress California home sales to the lowest level in 16 years, C.A.R. reports Key highlights: Existing, single-family home sales totaled 223,940 in November on a seasonally adjusted annualized rate, down 7.4 percent from October and down 5.8...
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June Market Recap: California’s housing market faces challenges with elevated interest rates and limited listings, impacting home sales for the ninth month in a row.
June Market Recap: California's housing market faces challenges with elevated interest rates and limited listings, impacting home sales for the ninth month in a row.Click to enlarge.Elevated Interest Rates and Limited New Listings Impact California Home Sales...
California Housing Market Faces Challenges Amidst Rising Interest Rates and Tight Supply
July, 25 2023 - The Market Minute is an analysis that offers the most up-to-date information on the economy and the housing market. It provides critical highlights and concise insights on industry-related issues every week.California Housing Market Faces Challenges...
Elevated interest rates and limited new listings suppress California home sales in June, C.A.R. reports
C.A.R. Reports: California Home Sales Dip in June Due to Interest Rates and Low ListingsJuly 19, 2023 - The statewide median price remains above $800,000 for the third straight month, and the year-over-year price decline is the smallest since January 2023. ...
Ventura REALTORS® Remain Upbeat Amidst Housing Challenges, Expecting Growth in Sales Volume and Prices
July, 18 2023REALTORS® Remain Upbeat Amidst Housing Challenges, Expecting Growth in Sales Volume and PricesREALTOR® Sentiment Report: Positive Outlook for Ventura REALTORS® and the California Housing Market Business Conditions: Good News for REALTORS® - According to...
California Housing Market: Resilience Amid Rising Rates
California Housing Market: Resilience Amid Rising RatesJuly 11, 2023 - Last week, the California housing market made headlines as it continued to thrive despite various challenges. The labor markets showed impressive resilience, dispelling fears of a looming...
California Housing Market Forecast: Tight Supply and Optimistic Outlook
Click to enlarge.California Housing Market Forecast: Tight Supply and Optimistic Outlook The California housing market grapples with tight supply, resulting in fewer sales and high home prices, while affordability remains a challenge. However, there are positive signs...
California Housing Market Rebounds with a Flourish, Surpassing $800K Median Price Mark Again
June 21, 2023 - California's housing market rebounded in May, with home sales reaching their highest level in eight months and the statewide median home price surpassing $800,000 for the second consecutive month. The market showed resilience and signs of improvement,...
Despite economic uncertainties, the homeownership rate among below-median income families has surged, reaching 53.4% in the first quarter of 2023
June 20, 2023 - The housing market in the United States faces uncertainties due to a slowing economy and higher mortgage rates. However, there is a notable increase in homeownership rates among below-median income families, reaching 53.4% in early 2023. Despite...
Mortgage rates fluctuate due to rate hikes and jobless claims, affecting homebuyers’ purchasing power.
June 13, 2023 - The California housing market is experiencing some ups and downs. While jobless claims have reached a concerning level, pausing rate hikes may provide stability. Foreclosure activity is increasing but remains below levels seen during the Great...