Two words alone have, rightly, loomed large in discussions about California’s housing market this year: inventory and affordability. A tight supply of homes available for sale has helped to keep strong upward pressure on home prices, which in turn has caused further deterioration of affordability in the state. As housing becomes more expensive, and the cost of living between expensive central areas and outlying counties expands, people begin to make decisions on the trade-offs between living farther out (and in larger houses) and commuting longer to their jobs. For your next purchase or rental who’s got your back? Subscribe and/or Follow me on Twitter for strategies to navigate the housing market!
Combining resources to acquire real estate sounds great, till you really consider ALL the considerations. I still meet investors who don’t use operating agreements with their partner/friends when flipping homes. This article addresses the “what if’s” in a practical sense.Buying Real Estate with a Buddy
June, July and August are considered peak sales months for real estate so it is a surprise that sales cooled in July of this year. As VERY strong demand in rentals persists, this might be an early sign of buying demand weakening by California house consumers.
California real estate moves higher in June. Is the economy getting stronger or is lending getting easier?
May sales moving higher, California real estate getting hotter into summer!
Take a look! Home pricing is getting MORE expensive! The median price of a home has now reached over $500K statewide! What is driving the growth in pricing? Take a closer look! Sales of single family homes DECREASED from last year and the previous year! From my conversations more homeowners are staying put, making housing more scarce and driving prices of existing homes higher. Many homeowners are taking advantage of lower property taxes by holding onto what real estate they have instead up trading up or down. Questions? Email me for more assistance on how to buy or sell a home in this market!
Sales and prices spiked in December, shaking off the market flattening in November. With housing prices continuing to climb higher, renters should expect increases across the board in most major markets; Los Angeles, San Francisco, Sacramento and San Diego.
October didn’t cool down till Halloween in 2015. Tenants very uncomfortable with the heat found relief with the shorter days and the evenings more pleasant. The market cooled for its second straight month with the MEDIAN going DOWN in October.