Southern California’s average home price
Southern California’s average home price
The latest trend in Southern California’s average home price indicates continued growth, though possibly at a slower pace than the previous year. Here’s what we can glean from available data: Read more 
Southern California Housing Market
Southern California Housing Market Weakest June in 5 years!
Sales fell 6.9% in June compared with May and were down 8% annually, according to CoreLogic. That is the slowest June pace since 2014. Historically, sales usually gain an average 5.8% from May to June.
The median price for all Southern California homes sold in June rose to a record $541,250, up 1.2% compared with a year ago. That is the smallest June gain since 2011.
Sales have been falling on a year-over-year basis for 11 straight months. Making the decline in sales even more surprising was the fact that home mortgage rates also fell more than 50 basis points over the past three months. Usually when home mortgage interest rates decline, housing becomes more affordable, and the entire residential housing market activity picks up.
Despite the lower mortgage rates and a healthy economic backdrop, the market was sluggish, suggesting many would-be buyers remained priced out or concerned about buying near a possible price peak,†wrote Andrew LePage, a CoreLogic analyst, in a release.
LePage noted one caveat — that there was one less business day in June compared with a year ago. Even with that adjustment, however, sales would have come in 5% lower annually. Read more
California Home Prices 2018
California Home Prices 2018
Real estate is very susceptible, when the economy suffers a change, real estate and the stock market are the first things to suffer. Real estate is good when there are strong first time buyers shopping for houses but unfortunately most first time buyers don’t have the financial means to qualify for a loan for the average San Diego detached home. California Home Prices 2018:
California home prices 2018
This is causing many first-time buyers to move much farther away from their employment than they had anticipated. Also, a good portion of them, are receiving family financial help, whether it be in the form of a substantial monetary gift to help with the down payment, and or cosigning on the home loan.
But, even in light of the above factors, prices for construction materials continue to increase, so I don’t think house prices will drop anytime soon, if at all. Real Estate prices should not be treated like stocks. They are not. Houses are a basic need. People will always need houses (either rent or buy). Because of continually growing population, there will always be a need for housing which should keep prices stable.
California home prices 2018 seem to be in a holding or cooling phase, coming out of a number of years of extraordinary home price appreciation. Naturally, no financial market can continue in any direction without strategic pauses. Plus, with the latest changes in interest rate write off deductions as well as state tax deductions, the California housing market has real fundamental reasons for entering into this cooling phase. Read more
California Home Hunting
California Home Hunting – The Millennial Home Buyer
This is a very humorous, and unfortunately very true ( especially here in California)Â Â depiction of a young millennial trying to buy his first home.
I’m sure some might think this is true of our current housing market situation in California . . . and it is! but, the overpriced housing market in California has been around for decades! what’s different now, is the fact that due to a shortage of available, and affordable homes in California the situation has been compounded in the last 2 to 3 years.
The last time I was working with a millennial couple looking for a two-bedroom condominium here in San Diego, it took over a year, and three different offers on properties, before we were able to close escrow on their first home.
Now, keep in mind that my first-time home buyer clients were well qualified for their price range, and with help from their folks were putting 20% down. Yet it was very frustrating to find a decent property that did not have multiple offers on it within days of its original listing.
California Home Sales
California Pending Home Sales
California Home Sales August 2014
Keep in mind, that pending home sales are forward-looking indicators of future home sales activity, and as such, provide a good basis for calling the future direction of the real estate market.
Here in California, pending home sales fell for the fifth straight month in the latest report for August. Read more
Home Sales Hit 6 1/2 Year High
Home Sales
This morning the National Association of Realtors reported that sales of previously-occupied homes rose 1.7 percent last month, hitting a 6 1/2 year high! Keep in mind that these August home sales reflect contracts signed in June and July, when mortgage rates were almost a full percentage point less than today. Read more
California Home Sales Improving
California Home Sales Improving
The number of days that it takes to sell a home has been decreasing as the real estate market is improving. Of the four fastest selling cities in the country, three California cities made the list.
In the country the average days on the market until the home is sold was 95 days. In Oakland, California, the average number of days a house remained on the market in September, 2012 was just 21 days! This was followed by the cities of Stockton and lodi, where the average number of days on the market before a home sold was43 days. The city of San Francisco came in third in the average number of days on the market at 44 days. Read more
California Housing Market
California Housing Market
San Diego real estate broker, Bob Schwartz
The National Association of Homebuilders just released a report listing US housing markets showing measurable and sustained improvement from their respective market troughs in housing permits, employment and house prices for at least six consecutive months. This latest report includes 73 metro areas that held their position on the list from last month as well as 11 new metro areas.
It’s speculated that the modest improvement in this improving market index indicates that individual housing market are regaining their footing despite some recent reports of weakening in the broader economy. Read more
California Housing – Past – Present & Future
California Housing
httpv://youtu.be/frmWgN1NLN8
Foreclosure rates are high, nearly a third of California homeowners are “underwater”, and rates of new construction are low. But Hans Johnson, Bren Fellow at the Public Policy Institute of California, says there are reasons for optimism about the future of California Housing.
California Home Sales
California Home Sales
California home sales
California pending home sales
The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today that pending home sales in California fell in November but were up from the previous year for the seventh consecutive month.
Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market. Read more