Market Trends
Real Estate Headlines
More than one-third of homes sold over list price; record low of 10 days on market before selling; read more at the link. . .
The pandemic ignited a housing boom; "With inventory dropping more than a half from a year ago, the market will soften in the second half of 2021 if we don’t see enough homes come on the market to meet demand.”; President Biden's $15,000 tax credit, how will it help you?; More on 3-D printed homes, how they save money; Can So Cal build 1.3 million more homes by 2029? read more at the link . . .
Inventory shortage in California continues to fuel upward prices, fewer homes on market 1st quarter compared to last year; Migration from Bay Area to Central California; appraisal discrimination; California has five housing markets leading the way in price, including Los Angeles-Long Beach metro region; rise in rates affecting mortgage refinance demand, read more at the link. . .
See this February presentation by C.A.R.
Single women buy more homes, share of single men in the market hasn't changed since 2012; Find out the cosmetic tweaks to make your home sell faster; homes are selling with multiple offers, but closing delays caused by financing, appraisals, and other contingencies; loan forebearance extended to 18 months; read more at the link . . . .
Buyers pushed into multiple offers, California inventory down by 50% from one year ago; mortgage application drops 11%, rates up; read more at the link. . . .
Buyers in fierce bidding wars; credit scores have improved, average was 711 in Fall of 2020; foreclosure moratorium extended to June, 2021; interest rates rising (but still very low by historical standards), drop in mortgage applications . . . read more at the link . . .
Read which California cities are the healthiest in the nation; the new construction homebuying rush is expected to continue, COVID forebearance borrowers have extended time to catch up; read more at the link . . .
More than half of homebuyers reported getting down payment from family; Credit scores below 640 present problems for getting mortgage qualification; more than one-third of buyers report getting outbid on their home offer; some millennials can step straight into the luxury market; read more at the link . . .
How to move safely during the pandemic; December home sales up 28 percent from one year before, largest yearly gain since 2009; bankruptcy and loan forbearance may add additional requirements for re-fi; bidding wars and appraised values, read more here . . . .
Orange County and Inland Empire see biggest price gains in 6 years; interest rates are very low, but first review 4 key considerations about homeownership;
2020 Annual Housing Report by California Association of Realtors
Possible precedent for future decisions about development along the region’s growing Metro rail network.
Between 2010-2015, denser urban locations grew significantly faster than residential neighborhoods
San Francisco owners converted to condos; rent control does not necessarily help those who would need it most, read from The Economist
More land and cheaper, more government financing housing support are part of the reason buying a home was within reach of the average wage earner
Credit scores for one thing, so try to raise your score! It can be done!
Most landlords are the mom-pop type, not huge greedy corporations.
Activists are Pushing for the Ballot Vote
Market Snapshot
Difference between 7% vs. 3.3%?
See a chart for both.
What are the costs of buying, and which areas have the most monthly savings?
- Find out Long Beach, Lakewood, Cerritos, Seal Beach, Huntington Beach, or Cypress home and condo market prices and trends, and what's going on with the market values at the state level, right down to your city and zip code level.
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- This is a special REALTOR report for interested homeowners and buyers which reveals average and median prices for single family houses and condominiums.
- Want to see how prices have changed in one year, or since last month?
- Just ask for the Local Market Update so that you can see the change in price, how much housing inventory has changed, and an easy-to-view chart showing the previous 4-year trend.
