Calhomenews

23/08/2024

Big changes for buyers, sellers and agents regarding commissions after $418 million settlement by the National Association of Realtors. The agreement will likely cut the cost to buy and sell a home.

Big changes for buyers, sellers and agents regarding commissions after $418 million settlement by the National Association of Realtors.

20/08/2024

Weaker-than-expected economic and job growth cracked open the door of opportunity for some home shoppers in July, as mortgage rates and home prices dropped -- and home sales improved.

Weaker-than-expected economic and job growth helped crack open the door of opportunity for some home shoppers in July.

16/08/2024

Home shoppers need a household income of $237,000 to becomes homeowners. Also, rich buyers ignore higher mortgage rates and keep purchasing high-end homes -- often with cash. And a majority of owners with a mortgage are considered equity rich.

Very few households could afford to buy a median-priced home in California. But luxury home sales -- and prices -- are soaring.

08/08/2024

Los Angeles and San Diego have the two highest percentage of renter households in the U.S. Also, many first-time buyers will need to spend at least $1 million to become owners. Home equity soars and mortgage rates tumble.

Los Angeles and San Diego have the two highest percentage of renter households in the U.S. Also, many first-time buyers will need to spend at least $1 million to become owners.

01/08/2024

The downside is that profit margins dipped in five of the eight housing markets surveyed, but only Bakersfield had a hefty drop from a year ago.

The downside is that profit margins dipped in five of the eight housing markets surveyed, but only Bakersfield had a big drop from a year ago.

31/07/2024

The financial cards are stacked against many renters who survive hurricanes, floods, wildfires and other major weather disasters. The long-term effects can be devastating.

23/07/2024

With the clock ticking, county supervisors cancel plans for a ballot measure on a new city with as many as 400,000 residents....

If approved, the new city would create good-paying jobs, provide much-needed housing and offer walkable neighborhoods for the 400,000 residents.

20/07/2024

All seven regions endured a decline in home sales, as buying power declined with higher rates. Home prices dipped, ending two months of record-setting marks....

Home shoppers pulled back with higher mortgage rates and prices dipped lower after two straight months of setting records.

17/07/2024

How does who lives and works in the White House affect your house, at least when it comes to prices? Find out which president has helped homeowners the most in the past three decades.

How has the California housing market performed under the past five presidents? And does who sits in the White House affect home prices?

13/07/2024

A significant increase of risk and rising costs have forced more companies offering homeowners' insurance policies to ask for rate increases, the latest challenge for the state's insurance crisis.

A significant increase of risk has forced more companies offering homeowners' insurance policies to ask for rate increases in California.

11/07/2024

Bay Area renters pay a lot for housing. But it's at least $5,250 cheaper than owning a home. Also, how many mortgage-ready buyers are in major cities in California? And foreclosures increase, but are a fraction of the record peak a generation ago.

California homeowners spend a lot more on housing than renters. In some cities, a couple to several thousand dollars more.

08/07/2024

Eight of the nation's 10 least affordable housing markets for homebuyers during the second quarter were in California. Every dollar is needed to make the monthly mortgage payment in four California counties....

Eight of the nation's 10 least affordable housing markets for homebuyers during the second quarter were in California.

28/06/2024

Big paydays from buying, fixing and selling homes in a year remain hard to come by for most flippers.

Big paydays from buying, fixing and selling homes in a year remain hard to come by for most flippers during the first quarter in California.

19/06/2024

Home sales remained below a closely watched threshold for the 20th straight month while prices reached a new record in May.

Home sales remained below a closely watched threshold for the 20th straight month while prices reached a new record in May.

20/05/2024

The Golden State generated hefty profits for home sellers, thanks to fast-rising prices and, on average, owning their homes for almost 12 years.

Fast-rising prices coupled with almost 12 years of ownership have generated huge profits for sellers, including a $700,000 profit in San Jose.

18/05/2024

Homebuyers embraced warmer weather and shrugged off the cold of mortgage rates, with prices soaring in the first full month of the spring homebuying season.

Homebuyers embraced warmer weather and shrugged off the cold of mortgage rates, with prices soaring in the first full month of the spring homebuying season.

14/05/2024

It's a wacky, wild market, as affordability improves slightly with a dip in mortgage rates and prices in most regions of California. But fewer than one of every six households can afford to buy a home -- and 40% of those who do own a home say they could not buy the same home today. How crazy is affordability? The Bay Area is more affordable than SoCal. https://www.calhomenews.com/2024/05/14/affordability-improves-slightly-but-the-average-buyer-still-needs-to-earn-208000/ CALIFORNIA ASSOCIATION OF REALTORS® Redfin Bankrate

A dip in mortgage rates and prices allowed a few more buyers qualify for a home, but a large majority of Californians renting are priced out.

18/04/2024

Wanna-be home buyers got a bit of sticker shock in March, as prices topped $850,000 and mortgage rates moved closer to 7%.

California home prices climbed higher, closing the door on more home shoppers who are also being priced out because of rising mortgage rates.

14/04/2024

California adds 12 million-dollar cities, thanks to the burgeoning demand outpacing the increase in mortgage rates. Also, more Bay Area home sellers are losing money and foreclosures increase in the first quarter compared to a year ago.

California added 12 million-dollar cities in 2023, as demand lifted prices despite an increase in mortgage rates. Also, more Bay Area home sellers are losing money.

28/03/2024

The Central Valley boasted some of the best percentage returns for flipped homes, but San Jose had the largest money gain for flippers. Also, State Farm discontinues 72,000 policies, the latest in the insurance coverage crisis in California....

The Central Valley boasted some of the best percentage returns for flipped homes, but San Jose had the largest money gain for flippers.

20/03/2024

More home shoppers shrugged off higher mortgage rates and became homeowners, as inventory inched higher -- and inventory improved in February.

More home shoppers shrugged off higher mortgage rates and became homeowners, as inventory inched higher -- and inventory improved in February.

16/03/2024

National Association of Realtors settles a class-action lawsuit that jeopardized the future of the trade association -- and will commission rates.

National Association of Realtors settles a class-action lawsuit that jeopardized the future of the trade association -- and will lower commission rates.

13/03/2024

The challenge for households looking to a home is real. Black millennials are half as likely to own a home as white millennials. Redfin CALIFORNIA ASSOCIATION OF REALTORS®

The racial homeownership gap is biggest for millennials, but it exists in every generation. Redfin economists expect the gap to shrink for millennials in the near future.

13/03/2024

rates dip below 7% helps attract a few more buyers, as mortgage applications increased during the past week. Maybe a better-than-expected spring homebuying season? CNBC Mortgage Bankers Association

Mortgage demand surged higher for the second straight week, after the average rate on the 30-year fixed dropped below 7%.

12/03/2024

Higher rates equal fewer buyers. Also, home sellers should remember that commission rates are negotiable and the happiest cities in California.

Higher rates equal fewer buyers. Also, home sellers should remember that commission rates are negotiable and the happiest cities in California.

24/02/2024

Also, everyday folks are still competing with a lot of investors for affordable housing, more agents leave the industry and small yards rule in California.

Also, everyday folks are still competing with a lot of investors for affordable housing, more agents leave the industry and small yards rule in California.

22/02/2024

Home prices dropped below $800,000 for the first time in 10 months, giving home shoppers a bit more buying power and options.

Home prices dropped below $800,000 for the first time in 10 months, giving home shoppers a bit more buying power and options.

17/02/2024

Head-spinning gains build wealth for homeowners -- and furthers the financial divide for those renting. California had four of the five largest profits in the nation in 2023.

Head-spinning gains build wealth for homeowners -- and furthers the financial divide for those renting

14/02/2024

In general, women earn less than men. But, guess what? They put those dollars to work. More single women own homes in than single men -- and in 46 other states. Check out the details https://buff.ly/3OHaTpE CALIFORNIA ASSOCIATION OF REALTORS® ATTOM Redfin Zillow

14/02/2024

It's a question that has plagued man for centuries: Should I buy or rent? It depends on where you live. Get the answer for several CA cities https://buff.ly/42s9IQE

Buying vs. renting is an easy decision in much of California. Also, single-women homebuyers can brag a bit, Santa Barbara housing has its moment in the sun and CAR faces lawsuits.