Steve Spiro’s Blog

California's single-family home sales ↓ 9% yearly and ↓ 3% MoM in July. Sales decline of <10% marks moderation and potential turnaround.

The Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis for the second quarter of 2023 showed that the median single-family square floor area decreased to 2,191 square feet, the lowest since 2010. During the COVID-19 pandemic, when mortgage rates were at historic lows, buyers had more purchasing power, causing the demand…

Warning issued over housing rule misuse amid growing opposition to these regulations. A new proposal grants local authorities power to counter state housing rules, prioritizing community preferences.

Initiative 1942 will appear on California's November 2024 ballot. It aims to give local jurisdictions the authority to impose rent control measures as they see fit.

California's housing market to rebound by 7.3% over the next year, following a recent decline in home values. Federal Reserve rate hikes impacted affordability, leading to a 2.2% drop in prices in the past year.

Westcom Credit Union is offering an amazing mortgage deal in the Southern California housing market, with no down payment for loans up to $750,000. It is available to first-time buyers, veteran homeowners, and even co-owners, with no income caps. There are some conditions, such as needing to be a Wescom member, contributing a minimum of…

A comprehensive home inspection is vital when purchasing a home, uncovering hidden issues and preventing unexpected repairs. Qualified inspectors evaluate property conditions, providing an unbiased report to help buyers understand potential risks. Various types of home inspections are conducted, including general assessments and specialized checks. Inspection reports include photos and observations, helping buyers make informed…

The Central Valley is the 10th most competitive rental market in California. There are an avg of 8 renters considering each apartment that comes on the market.

California's Senate Bill 35 led to the construction of thousands of new homes. 156 pending and approved housing projects in CA resulted in 18,215 proposed new units due to SB 35.

Happy Labor Day! Labor Day is a day dedicated to honoring the contributions and achievements of workers and the labor movement. It marks summer's informal end in the U.S., as schools often start after the holiday. It offers a chance to ponder the historical strides in workers' rights and labor advancements. Cheers to hardworking individuals…