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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...

Economic & Housing Market Update Reports

The June 2024 Camarillo Housing Report provides an analysis of the housing market in Camarillo, California, detailing key economic indicators, demographic data, and housing trends. It highlights the challenges in the local housing market, including affordability issues, low vacancy rates, and the impact of underbuilding on the availability and cost of housing. The report also outlines the characteristics of the local population, such as income levels, age distribution, and housing preferences, offering insights into the economic and social dynamics shaping the Camarillo housing market.  Read the full June 2024 report.

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.

COMING SOON!

California home sales reach five-month high as mortgage rates hit lows

California home sales reach five-month high as mortgage rates hit lows, C.A.R. reports Existing, single-family home sales totaled 279,810 in July on a seasonally adjusted annualized rate, up 3.6 percent from 270,200 in June and up 4.1 percent from 268,840 in July...

Higher home prices and elevated mortgage rates push California housing affordability to near-17-year low in second-quarter 2024, C.A.R. reports

Higher home prices and elevated mortgage rates push California housing affordability to near-17-year low in second-quarter 2024, C.A.R. reports Fourteen percent of California households could afford to purchase the $906,600 median-priced home in the second quarter of...

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...

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...

California housing affordability dials back to hit 16-year nadir as interest rates surge to two-decade high in Q3 2023

California housing affordability dials back to hit 16-year nadir as interest rates surge to two-decade high in Q3 2023, C.A.R. reportsKey highlights: · Fifteen percent of California households could afford to purchase the $843,600 median-priced home in the third...

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...

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...

US Pending Home Sales Show Signs of Recovery

US Pending Home Sales Show Signs of Recovery "The recovery has not taken place, but the housing recession is over." - Lawrence Yun, NAR Chief EconomistClick to enlarge.Key highlights US pending home sales rise 0.3% in June, the first increase since February. NAR Chief...

PREVIOUS ENTRIES

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,...

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...