Author: admin
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Rent is decreasing nationwide: Here is how California cities compare, study says
This report from a real estate listing website found that rent prices have dropped by 0.5% across the U.S., with the median asking rental price at $1,739. In California, the median rental price has increased in San Jose, but other cities have experienced decreases, with the western metro area being 3% lower than last year.…
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Why Housing Prices Haven’t Dropped: The Current Market Scenario
Limited inventory prevents significant drops in home prices despite fewer buyers. Fewer new listings lead to multiple offers and higher prices. Some indicators suggest a gradual cooling of the housing market. Recent research suggests a nationwide drop in prices may take time.
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This Housing Cost Is More Than My Mortgage
Property taxes are an important factor to consider when buying a home, as they can be more expensive than mortgage payments and can increase over time. Different counties and states have different rates for property taxes, so potential homeowners need to research what the taxes will be in the area they are considering buying in.…
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The General Trend Expected for the US Housing Market
Property analysts predict that home prices will ↓ an avg of 2.8% in 2023. That is less than the 4.5% drop predicted earlier. That is also despite the aggressive tightening cycle by the Fed. The tight supply of homes is the main factor contributing to the resilience of home prices.
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Housing Market Shows Resilience Amidst Challenges
The DOM for existing homes have fallen back to 22 days. The low DOM could result from either a housing credit boom followed by a bust or a shortage of homes. There hasn't been a massive credit boom as purchase application data remains low, indicating a lack of credit expansion.
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Housing Market Predictions For 2023: When Will Home Prices Be Affordable Again?
The spring homebuying season of 2023 is expected to be a dud due to persistently high mortgage rates, tight inventory issues, and an impending recession. The median existing-home sales price has declined for the second consecutive month, which is a promising sign for home shoppers, but substantial nationwide price declines are unlikely. The Federal Reserve…
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Reasons to Invest in Real Estate During an Economic Downturn
1. Real Estate is always going to be in demand. 2. Favorable prices can lead to larger gains. 3. Real Estate can provide cash flow. 4. Real Estate is accessible for everyone.
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Forbes Advisor: A Comprehensive Analysis of the California Housing Market
Forbes Advisor reports that the California real estate market is facing challenges due to higher mortgage rates and rising inflation. Despite these obstacles, the housing market remains largely healthy in the Bay Area and Southern California. Home prices vary across the state, but many markets are transitioning from a seller's market to a more neutral…
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California Housing Market report: Sales and prices show rebound, but don’t expect a rapid recovery
The California Association of Realtors reported in May that home sales rose to the highest level in eight months and the statewide median price remained above $800,000. The San Francisco Bay Area experienced the biggest sales lag and price drop compared to the same time last year, but month-over-month sales and prices bounced back in…
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Spring Home Buying Tips
1. Prepare your budget. 2. Don’t expect prices to crater. 3. Be prepared to negotiate.