Category: California
Southern California Archives – Norada Real Estate Investments
The allure of Southern California living – sunshine, beaches, and a vibrant economy – continues to fuel a dynamic housing market in 2024. As spring unfolds, potential buyers and sellers are eager to understand what’s brewing beneath the surface. Here’s a deep dive into current market trends and what you can expect in the coming months. Southern California Housing Update: In Southern California, the median sold price of existing single-family homes in April 2024 reached $880,000. This reflects a 3.5 percent increase from March and an impressive 12.1 percent surge…
Read MoreSouthern California Housing Update: Record Prices Fuel Growth – Norada Real Estate Investments
The allure of Southern California living – sunshine, beaches, and a vibrant economy – continues to fuel a dynamic housing market in 2024. As spring unfolds, potential buyers and sellers are eager to understand what’s brewing beneath the surface. Here’s a deep dive into current market trends and what you can expect in the coming months. Southern California Housing Update: In Southern California, the median sold price of existing single-family homes in April 2024 reached $880,000. This reflects a 3.5 percent increase from March and an impressive 12.1 percent surge…
Read MoreSouthern California Housing Market 2024: Trends and Forecast – Norada Real Estate Investments
As the spring homebuying season kicks off, the real estate market in Southern California is showing promising signs of growth and resilience. According to the latest report from the California Association of Realtors (C.A.R.), existing, single-family home sales in the state April totaled 275,540 on a seasonally adjusted annualized rate. This marks a 3.0 percent increase from March and a 4.4 percent increase from April 2023. Record-Breaking Median Home Prices One of the most notable highlights of the report is the all-time high median home price in California, reaching $904,210…
Read MoreCalifornia Homes Prices Set New Record – Patch
LOS ANGELES, CA —Home sales in Southern California and across the state rebounded last month, while the statewide median home price exceeded $900,000 for the first time ever, according to figures released Friday by the California Association of Realtors. Unadjusted raw sales increased on a year-over-year basis, with the Central Coast rising the most from a year ago, and Southern California showing sales gains of 8.7% from April 2023. Statewide, the median price recorded a new all-time high in April, jumping 11.4% from $811,510 in April 2023 to $904,210 in…
Read MoreCalifornia home prices just reached a new record high – KTLA Los Angeles
Home prices in California reached a new record high in April as sales increased despite elevated mortgage rates and the state’s seemingly insurmountable housing shortage. The median price of a single-family home climbed to $904,210 last month, nearly 6% higher than March and 11% above April 2023, according to data released on Friday by the California Association of Realtors. Home sales also increased month over month and year over year by low single-digits. “Both sales and prices are going up despite all the speed bumps that we’ve had along the…
Read MoreMajor Insurer Delivers Massive Sticker Shock To California Homeowners – Benzinga
California homeowners who were looking for relief from high insurance premiums may want to brace themselves for a nasty surprise if they carry Travelers Insurance. The national insurance giant recently announced they would be hiking homeowners’ premiums in the Golden State by an average of 15.3%. The move will affect an estimated 320,000 policyholders and goes into effect in June of this year. Although the average premium increase is 15%, some homeowners will see their rates increase by as much as 25%, which will only place further strain on the…
Read MoreMortgage Rates Drop Slightly, California Housing Market Heats up, Says CAR Report – Pasadena Now
The 30-year fixed-rate mortgage continued to edge down last week as the bond market settled after several strong economic reports, according to a recent report from The California Association of Realtors (CAR). During its May meeting, the Federal Reserve unanimously voted to hold policy rates steady for the sixth consecutive time, leaving the federal funds target rate unchanged at 5.25% to 5.5%. During the meeting, Chair Jerome Powell admitted that it will likely take longer than anticipated for the Fed to gain enough confidence that the economy is on track…
Read MoreCalifornia Housing Market Booms: Investor Purchases Are Soaring – Norada Real Estate Investments
The California housing market has long been a complex beast, notorious for its soaring prices and fierce competition. After a period of relative quiet from investors, new data reveals a significant resurgence in their activity, particularly within affordable areas of the state. This trend has far-reaching implications for Californians hoping to become homeowners, potentially intensifying the affordability crisis. Investor Home Purchases Are Soaring in California A recent report by Redfin shows a nationwide uptick in investor purchases of U.S. homes. In the first quarter of 2024, investor home buying rose…
Read MoreBuying a home in Southern California? There are now more options – Los Angeles Times
For much of the past year, the Southern California housing market has been defined by an extreme shortage of homes for sale. The abnormal scarcity — compounded by the region’s long-running underproduction of housing — emerged when homeowners chose not to sell and give up pandemic-era mortgage rates. The so-called seller strike helped pushed home values to new records, despite rising borrowing costs. Now the inventory picture might be changing. “It’s getting a little bit better,” said Eneida Contreras, a Compass real estate agent who specializes in the San Fernando,…
Read MoreThe Anthony Group Expands Its Expertise in Real Estate Markets Across California and Georgia – EIN News
EXP Logo California Luxury Homes Atlanta Luxury Homes Discover a great transformation of real estate with buying, selling, and market analysis expertise. Our commitment to our clients extends beyond transactions. We are dedicated to building lasting relationships and ensuring that every client’s real estate experience is exceptional.” — Octavian Anthony ARCADIA, CALIFORNIA, UNITED STATES OF AMERICA, May 9, 2024 /EINPresswire.com/ — The Anthony Group, a pioneering real estate team renowned for its innovative approach in the real estate industry, proudly announces its expanded services in key markets across California, Atlanta,…
Read MoreSouthern California Housing Market Stalled Due to High Rates – Norada Real Estate Investments
CoreLogic recently released their monthly report on the Southern California Housing Market for March 2024, shedding light on the state of residential real estate in the region. According to Dr. Selma Hepp, CoreLogic’s chief economist, the market continues to face challenges, including high mortgage rates and affordability issues, leading to a stagnation in sales activity. Southern California Market Conditions: Despite solid buyer demand, the Southern California housing market is grappling with various obstacles, including a scarcity of inventory and sellers reluctant to list their properties amidst favorable mortgage rates and…
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