According to the company, 22.9% of homes sold for more than asking price, declining from 25.5% of homes the same time last year. Notably, the share of homes that sold above asking price has been steadily decreasing from June, when it was at 29%. “With home price growth slowing to 4.7% in August, and a record-high […]
CA Market & Troubling ‘B’ Word
In the California real estate market the “b” word is on the minds of many: Bubble. With reports of sharp declines in home sales, shrinking inventory and rising home prices, it might be an understatement to call California’s situation a puzzle, and one that may have implications for the entire country. June marked the slowest […]
April 2 – CVAR At A Glance
Featured Classes and Events April 2 | CRMLS Training – Free April 3 | Reverse Mortgage – Free April 4 | YPN Open Forum – Free April 4 | CVAR Forum with CRMLS CEO Art Carter – Free April 5 | CVAR Caravan – Atty. Rod Fehlman April 5 | Contract College: Session 8 Board of Directors Open Positions […]
Spring: Home Sales Rebound
Following two consecutive months of declines, existing-home sales rebounded 3% in February month over month and reached a seasonally adjusted annual rate of 5.54 million, the National Association of REALTORS® reported last week. Sales of existing homes, which include single-family homes, townhomes, condos, and co-ops, are now 1.1% higher than a year ago. “A big jump […]
Nov. 6 – CVAR At A Glance
Featured Classes and Events Nov. 6 | CRMLS Training – Free Nov. 7 | Supra Maintenence 8 p.m. (see image) Nov. 7 | Break Through Business Barriers Nov. 8 | New Member Orientation – with Live Stream Nov. 10-11 | All CVAR Offices Closed for Veterans Day Nov. 13 | CRMLS Training – […]
Home Flippers Face New Hurdles
In the second quarter of this year, 5.6% of all home sales were flips, according to ATTOM Data Solutions’ Q2 2017 U.S. Home Flipping Report. The report defines a flip as a property that is sold for the second time within a 12-month period. As housing inventory remains low and buyers get more competitive, home […]
California Home Sales Report
California’s housing market defied gravity as existing home sales and median home price registered increases on both a monthly and an annual basis in August, C.A.R. reports. Closed escrow sales of existing, single-family detached homes in California remained above the 400,000 benchmark for the 17th consecutive month, and totaled a seasonally adjusted annualized rate of […]
Supply Stuck, Buyers Tripped Up
As buyers faced fewer options and record-high real estate prices, low inventory slowed down home sales last month. “Closings were down in most of the country last month because interested buyers are being tripped up by supply that remains stuck at a meager level and price growth that’s straining their budget,” says NAR Chief Economist […]
Affordability Crunch Stifles Home Sales
LOS ANGELES (Sept. 15) – California home sales downshifted in August as low housing affordability and a tight supply of homes for sale cut into demand, especially in high cost areas of the San Francisco Bay region, the California Association of REALTORS® (C.A.R.) reported. Closed escrow sales of existing, single-family detached homes in California […]
4 Reasons 2016 Is the Year to Buy a Home
by Kathryn Vasel If you’ve been on the fence about buying a home, 2016 is the year to take the plunge. Mortgage rates have been bouncing around record lows for a while now. But even though they’re likely to start going up, you haven’t missed your chance to get a deal on a house. […]