The budget-busting mix of rising mortgage rates and record-high prices squashed Southern California homebuying in March. The six-county region had 14,176 completed sales in March of existing and new houses, townhomes, and condos, according to data released by CoreLogic on Monday, April 29. This was off 8% from a year ago and represents the second-lowest … Read more
California home sales dropped in March, while prices continued to increase, according to figures released by the California Association of Realtors. Sales decreased on a year-over-year basis in all major regions except the Central Coast, and sales in Southern California experienced the second-biggest drop from a year ago, declining 7.8%. Statewide, existing, single-family home sales … Read more
When Rhonda Burnett went to sell a home in 2016, she knew she would have to pay a commission to her real estate agent. The house was a second home — she and her husband, Scott Burnett, had purchased the three-bedroom house in Kansas City’s Hyde Park neighborhood as a place for their oldest son … Read more
“Numerology” tries to find reality within various measurements of economic and real estate trends. Buzz: What if homeowners are simply not selling because they like their homes? Source: My trusty spreadsheet reviewed home transaction data from Attom tracking last year’s sales by length of ownership, price sold, and profits – the difference between sale and purchase … Read more
It was a weaker-than-average early winter for Southern California home prices. December and January are known for price dips as house hunters shy from closing on a home purchase around the holidays. My trusty spreadsheet tells me Southern California homes have averaged 2.2% declines during these two months since 1988. And historically speaking, that’s the … Read more
Home-price growth in the US accelerated in December, capping a period with a steep drop in mortgage rates. Prices nationally rose 5.5% from a year earlier, according to data from S&P CoreLogic Case-Shiller. That’s larger than the 5% annual gain in November. San Diego had the biggest year-over-year gain, at 8.8%, of the 20 cities … Read more
California home prices are on the rise, according to the S&P Case-Shiller Indices. The San Diego metropolitan area’s annual home price increased 8 percent in November. It was the second highest in the 20-city index for a third month, behind Detroit, which rose 8.2 percent. Los Angeles-Orange County prices rose 7.2 percent and San Francisco … Read more
