U.S. housing starts declined more than expected in July, adding to evidence that supply and labor constraints are holding back home construction while demand has slowed. Residential starts dropped 7% last month to a three-month low 1.53 million annualized rate, according to government data released Wednesday. Building permits, however, climbed 2.6% in July due to […]
1.3M New Homes by 2029
Southern California leaders voted March 4 to adopt a new housing plan for the 2020s that will triple its future homebuilding goals. The 64-1 vote by the Southern California Association of Governments – made up of elected officials from 191 cities in six counties – requires local cities and counties to draft plans to zone […]
Sorry Dorothy, There’s No Place for Home
More Southern California cities than ever before are fighting to have their allocations of new homes rolled back. No one denies the region needs more homes in general, and there’s been a specific push to get housing for low-income families built across the region. But some city leaders say the 1.34 million new units assigned […]
NAR Economist Explains Housing Rebound By the Nos.
The housing market has rebounded from the low hit last spring during the worst of the coronavirus pandemic, the Department of Housing and Urban Development reported. Sales of new and existing houses are driven by low mortgage rates and a desire by many to leave cities for the suburbs. Lawrence Yun, chief economist at the […]
Aug. 31 – CVAR Connect
CVAR’s COVID-19 Resources REALTORS®: Updates & Guidelines What’s Happening at CVAR under COVID-19 restrictions Latest COVID-19 Updates from C.A.R. Citrus Valley Association of REALTORS® is conducting all business remotely. Meetings and classes presented by CVAR will be online and free of charge (see available classes below). ____________ REALTOR® Safety Day Sept. 11 Click to View […]
Building Exceeds Expectations
Housing starts and permits shattered expectations in July, both hitting recent highs for residential construction. According to the U.S. Census Bureau and the Department of Housing and Urban Development, starts spiked 22.6% from the revised June estimate — the largest month-over-month gain since October 2016. That annualized pace is up 23.4% from July 2019, and […]
Builder Confidence Surges
Few thought the housing market would see this quick a turnaround in homebuyer demand. The COVID-19 pandemic dragged down the spring buying season as states and cities issued stay-at-home orders. But despite the lingering pandemic and subsequent economic recession, homebuilders are upbeat on housing heading into summer. Builder sentiment surged 21 points in June, the […]
Feb. 18 CVAR At a Glance
Featured Classes & Events Announcing REvive Celebrity Spotlight! Real Estate REvive Conference & Expo is Coming March 19 at Victoria Gardens Feb. 19 | Residential Listing & BRE Agreements Feb. 20 | Mortgage 101 – Rancho Cucamonga Feb. 21 | Ethics Training – All Locations – Free Feb. 24 | CRMLS Training – CVAR West (So. El […]
IE Construction Sinks, LA Rises
The decline in construction jobs for Inland Empire workers last year was one of the steepest in the nation, according to one study. There were 2,600 fewer construction jobs in Riverside and San Bernardino counties in 2019, a 3% decline, the Associated General Contractors of America reported. It was the third-highest loss among 358 metropolitan […]
CA’s Failing Grade for Permits
California needs more housing, but 97% of cities and counties are failing to issue enough RHNA permits. In 2017, neighborhood leaders gathered in Long Beach to discuss a City Hall plan to address the city’s housing shortage. To increase the housing supply and stem skyrocketing residential costs, planners proposed multi-story apartment buildings line major streets and […]