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Latest Market Report
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...
NAR Economists Foresee 2023 Housing Market Trends Amid Rising Rates and Inflation
NAR Economist 2023 Housing Market Trends: Rising Rates and Inflation Rising interest rates and inflation set the stage for a nuanced real estate landscape in 2023, with tempered home price growth and heightened competition on the horizon.Lawrence Yun, NAR’s Chief...
Economic & Housing Market Update Reports
The “Economic and Housing Market Update Report” for Fillmore, California, provides an in-depth analysis of the local economy, demographics, and housing market. It includes data on household income, population trends, education levels, employment, and housing values. The report highlights the dominant consumer segments in the area, such as Family Extensions and Urban Villages, and discusses the challenges and opportunities in the local housing market, including affordability, homeownership rates, and the impact of underbuilding on the economy and families. The report underscores the need for increased housing supply to meet demand and improve affordability. Read the full June 2024 report.
The June 2024 Ojai Housing Report provides an overview of the economic and housing market conditions in Ojai, California. The report includes detailed demographic data, housing statistics, and economic indicators. It highlights the dominant consumer segments, such as “City Lights” and “Golden Years,” and their characteristics, including household income, education levels, and housing preferences. The report emphasizes the challenges of housing affordability, low vacancy rates, and the impact of underbuilding, which are affecting the local economy and quality of life in Ojai. Read the full June 2024 report.
The June 2024 Oxnard Housing Report provides a comprehensive analysis of the local economic and housing market conditions in Oxnard, California. The report details key demographic information, such as median household income, population trends, and the dominant consumer segments in the area. It highlights challenges in the housing market, including affordability issues, a low vacancy rate, and the impact of underbuilding. The report emphasizes the need for increased housing supply to address these challenges and improve overall market conditions. It also covers trends in housing values, homeownership rates, and the socioeconomic traits of various communities in Oxnard. Read the full June 2024 report.
The “Economic and Housing Market Update Report” for Port Hueneme provides an analysis of the local economic and housing market conditions. It details key demographic segments such as “Diverse Convergence,” “Urban Villages,” and “Old and Newcomers,” each with unique characteristics like income levels, housing preferences, and employment patterns. The report highlights challenges such as affordability, low vacancy rates, and the impact of underbuilding, emphasizing the need for increased housing supply to address these issues and improve the overall market dynamics in Port Hueneme. Read the full June 2024 report.
The “Economic and Housing Market Update Report” for Santa Paula, California, provides a detailed analysis of the local economic and housing market conditions. It includes demographic data, such as median household income, population, and age distribution. The report also identifies key consumer segments in the area, such as “Family Extensions” and “Pleasantville,” and discusses their characteristics, housing preferences, and challenges. Additionally, the report highlights economic factors like unemployment rates, income levels, and educational attainment, emphasizing the need for more housing supply to address affordability issues and economic growth challenges in Santa Paula. Read the full June 2024 report.
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Federal Reserve Holds Steady on Interest Rates, Bond and Mortgage Rates Rise on Strong Jobs Report
Federal Reserve Holds Steady on Interest Rates, Bond and Mortgage Rates Rise on Strong Jobs ReportThe Federal Reserve left interest rates unchanged at their recent meeting and signaled that they will be closely monitoring the data for improving signs on inflation to...
PREVIOUS ENTRIES
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...
Mortgage Rates Ease as Debt Ceiling Crisis Avoided
Despite higher mortgage rates and economic uncertainties, the housing market in California, particularly in Ventura County, continues to thrive. The market faces tight inventory, with new listings declining and homes selling much faster than earlier this year. Demand...
California Housing Market Forecast: A Gradual Momentum Shift
The California housing market experienced a dip in sales due to higher mortgage rates and low inventory. However, there are positive rebound indications, with closed sales projected to increase in May. Housing affordability saw improvement at the start of the year,...
Market Resilience Shines Through Economic Challenges and Inflationary Pressures
The California housing market faces economic challenges and inflationary pressures, impacting consumer sentiment. However, there are positive signs with increased home purchase sentiment and a decline in mortgage delinquency rates. While concerns remain, the market...
2023 California Housing Market Forecast
The California housing market in 2023 is expected to be affected by high-interest rates, inflation, and the possibility of a recession. The job market is predicted to grow moderately, with healthcare and hospitality being notable sectors. However, the risk of a...
California Housing Market Improving Slowly But Faces Tight Inventory Challenge
Despite the challenges the California housing market has faced, such as tight inventory, recent banking turmoil, and concerns over economic growth, market activity is gradually increasing. The share of those having listing appointments, entering escrow, and closing...
Ventura County’s Labor Market: A Tale of Low Unemployment and High Job Openings
Ventura County's labor market faces several challenges, including a declining population, net out-migration, and a restrictive impediment to new growth represented by SOAR. Although the unemployment rate is low, unfilled job openings remain high, and job growth is...
California housing market sees modest sales growth despite rising mortgage rates and limited inventory.
The latest housing market report indicates that California's real estate market is still under pressure, with an uptick in mortgage rates threatening to impact home sales. Sales of existing single-family homes have taken a step back, while mortgage applications have...