Market Updates

The California housing market is expected to rebound in 2024, according to the California Association of Realtors. The forecast predicts an increase in home sales and prices, driven by lower mortgage rates and an increase in housing supply. However, housing affordability remains a concern, with only 17% of households able to afford a median-priced home. While uncertainties and risks exist, the overall trend suggests a positive outlook for the market.… Read More »Will the Housing Market Crash in California in 2024?

If you are facing homeowners insurance cancellation or non-renewal, there are steps you can take to find affordable coverage. If you find yourself with no option other than the FAIR Plan, apply as early as possible. If your premium is becoming unaffordable, consider increasing your deductible.

California's rental market differs from other major states, with fewer large landlords. Texas and Florida have more corporate-owned rental properties, while New York has a similar situation to California but with slightly more large landlord ownership. Midwestern states have a higher proportion of small landlords. California's high cost of living leads to higher rental incomes, which contribute to the state's economy but also create an affordability crisis. The unique rental… Read More »Diving Deeper: California’s Unique Rental Market in the National Context | The LA Insider

The California housing market is experiencing shifts, with a decline in existing home sales and fluctuations in median home prices. Elevated mortgage interest rates have suppressed sales, while a tight supply of homes has kept prices from falling. Regional variations show declines in sales across major regions and counties, with some areas experiencing significant drops. However, home prices have generally increased across regions. Housing inventory remains a challenge, with a… Read More »California Housing Market: Home Prices & Forecast 2023-2024

Mortgage rates have been increasing, leading to higher mortgage payments. The average monthly mortgage payment ranges from $3,696 in Hawaii to $1,700 in West Virginia. The states with the highest mortgage payments are Hawaii, California, Massachusetts, Utah, and Colorado, while the states with the lowest payments are West Virginia, Kentucky, Michigan, Mississippi, and Ohio. Continue to full article

Median price of single-family homes: $660K Price change: ↑ 1.5% MoM, and ↑ 6.5% yearly Sales change: ↓ 0.9% MoM, and ↓ 7.8% yearly Median DOM: 20-day, ↑ MoM from 18-day

Planada: – Median home value: $251,868 – Price change: ↑ 7.8% yearly, ↑ 0.3% year-to-date . Hume: – Median home value: $313,356 – Price change: ↑ 7.9% yearly, ↑ 5.4% year-to-date

Los Angeles County has 18 of the top 100 most expensive ZIP codes for renters in the US. The average rent for two bedrooms is $5,464 and for one bedroom is $3,431. Assuming one-third of income is spent on rent, households would need salaries of $197,000 and $124,000 for larger and smaller units, respectively. Southern California also has 33 of the most expensive ZIP codes for homeowners. The costliest ZIP… Read More »Los Angeles County has 18 of the nation’s priciest ZIP codes for renters

Median price of single-family homes: $840K Price change: ↓ 0.4% MoM, and ↑ 5.3% yearly Sales change: ↑ 0.3% MoM, and ↓ 11.9% yearly