Category: Uncategorized
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California Housing Prices: Will They Fall in 2025?
California housing prices in 2025 may see declines in some MSAs, with others experiencing growth. High living costs and remote work trends are driving declines in cities like San Francisco and Sacramento.
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California Housing Market Stalls: What’s Next for Homebuyers?
The California housing market is currently experiencing a slowdown, with September 2024 home sales hitting a nine-month low at 253,010, a 3.4% drop from August. The median home price is $868,150, reflecting a slight decrease from August but a 2.9% increase year-over-year. Economic uncertainty, fluctuating interest rates, and increased inventory contribute to buyer hesitation. While…
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Will California Be a Buyer’s or Seller’s Market by End-2024?
California home sales dropped to an annualized rate of 262,050, a 6.3% decrease from July. Median home prices reached $888,740, showing a 0.2% increase from the previous month.
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Half a million California homeowners to see second insurance rate hike in a year
More than half a million Californians will face home insurance rate increases for the second time this year. The Auto Club of Southern California has been approved to raise rates by an average of 6.2% for homeowners and 11.6% for condo owners, effective at their first renewal in 2025. Earlier in March, rates increased by…
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Why lower interest rates likely won’t make housing more affordable in Silicon Valley
A recent study indicates that the San Francisco and San Jose metro areas will see minimal benefits from lower mortgage rates, with less than a 4% increase in affordability. Despite a recent Federal Reserve rate cut, high demand and low inventory in Silicon Valley may prevent significant price reductions. Lower rates could ease mortgage qualifications…
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California Seeks Public Input on Insurance Reforms
California's Department of Insurance seeks public input on reforms to improve statewide insurance availability.A virtual public hearing on wildfire modeling regulations is scheduled in September.
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Broadband and Housing Bills Impact California Growth
California’s housing market is impacted by broadband expansion, new laws, and emerging affordable housing trends. Over $1.8B for broadband could transform underserved communities, increasing Real Estate viability across California.
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California’s Wildfire Crisis: $760 Billion Rebuild Bill
Over 1.2 million California homes face high wildfire risk, with reconstruction costs exceeding $760 billion. California FAIR Plan offers limited insurance, with major insurers retreating from high-risk zones.
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California’s New Home Construction Rises
Single-family Permits Increase: Up 13% from 2023, highest in two years. Multifamily Permits Decrease: Hit a 12-year low, down 27%.
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Southern California Investor Bets on Mid-Market
A property at 989 Market St. was acquired for $13.5M, marking a major post-pandemic investment. The six-story building will be marketed as a multitenant space due to lower demand for full offices.