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Your first tuesday real estate news
Week of October 14, 2019

Earthquake retrofitting grant program gets a boost from California’s legislature
California's Earthquake Brace and Bolt program is shifting more funds to low-income households.

CIDs required to perform visual inspections of exterior elements
This new law requires CIDs to make a reasonably competent and diligent visual inspection of the project’s exterior elevated elements.

Sales agent license renewals decline in 2019
An average of 81% of expiring sales agents renewed over the 12 months ending in July 2019.

The interplay between home sales, GDP and employment
California’s Gross Domestic Product rose by 3.5% in 2018, slightly below the 3.6% GDP increase in 2017.

Newly licensed sales agent and broker population
Roughly 5,800 new real estate agents and 1,300 new brokers received licenses from the DRE in Q2 2019.

Current market rates
The average 30-year fixed rate mortgage decreased to 3.67% in the week ending October 11, 2019.

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