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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...
California Housing Market: A Strategic Analysis
California Housing Market Analysis California Housing Market Stays Resilient Amidst Rising Rates and Inventory ShortageClick to enlarge.Key highlights Federal Reserve raises the Fed Funds Rate, marking a significant shift in monetary policy. California's housing...
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...
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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...
California Housing Market Faces Challenges Ahead of Spring Home Buying Season
According to a new report, the California housing market faces challenges ahead of the spring home-buying season. REALTORS® are experiencing a drop in listing appointments, resulting in fewer properties being listed for sale. The report also highlights a decline in...
California Housing Market Analysis – Week Ending April 8, 2023
Based on the latest economic data, the US labor market appears to be gradually slowing down, with the job count declining from the prior month. However, the March report was still considered strong overall. Although wage growth inched up, it did so at the slowest pace...