Reader, watch economic factors destabilize in your
Monthly Statistical Update
Week of October 2, 2023
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Unstable economic signals hold down new construction; Monthly Statistical Update (October 2023)

Monthly Statistical Update: October 2023
Job growth stalls, the stock market enters a bull market in disregard of reality, and residential construction languishes.
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California home sales volume: August 2023 sales fizzle
August 2023 home sales volume was up 8% from the prior month — but down 14% from a year earlier in California.
Waiver by Negotiation or by Conduct

Waiver by Negotiation or by Conduct
This video covers the waiving of a mortgage holder's due-on rights through negotiation and conduct.
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Why are homebuyers buying in 2023?
 
UDAAP consumer mortgage protections extended to commercial financing

UDAAP consumer mortgage protections extended to commercial financing
Existing regulations prohibiting unfair, deceptive, and abusive practices (UDAAP) in consumer mortgage financing now apply to the conduct of originators of commercial mortgage financing in California.
Press Release: Negative Buyer Purchasing Power Index (BPPI) casts a shadow over home prices

Press Release: Negative Buyer Purchasing Power Index (BPPI) casts a shadow over home prices
The Buyer Purchasing Power Index (BPPI) remains deeply negative, at -10.7 in Q3 2023, so a homebuyer with the same income is able to borrow 10.7% less mortgage money than a year ago.
DRE Hot Seat: Broker license suspended for failure to prevent unlicensed staff from conducting licensed activity

DRE Hot Seat: Broker license suspended for failure to prevent unlicensed staff from conducting licensed activity
Read how the DRE revoked a broker's license for failing to supervise the activities of his staff as his unlicensed assistants were contracting and negotiating with principals in real estate transactions.
Form-of-the-Week: Authorizations to Prepare an NHD, and a Structural Pest Control Operator Report — Forms 131 and 132

Form-of-the-Week: Authorizations to Prepare an NHD, and a Structural Pest Control Operator Report
A sellers agent uses RPI Forms 131 and 132 to order a Natural Hazard Disclosure (NHD) report and a Structural Pest Control (SPC) report.
Is a month-to-month commercial tenant operating an agricultural business protected against an unlawful detainer (UD) action based on a notice to quit when rent is not delinquent?

Recent Case Decision: Two Bunch Palms Building LLC v. Coastal Harvest II
Is a month-to-month commercial tenant operating an agricultural business protected against an unlawful detainer action based on a notice to quit when rent is not delinquent?
California tiered home pricing

California tiered home pricing
Despite the uptick in home prices across Los Angeles, San Francisco and San Diego during July 2023, California home prices range from 2% below the May 2022 peak in prices in the low tier to 6% lower in the mid and high tiers.
Trending mortgage rates

Current mortgage rates
The average 30-year FRM rate increased to 7.31% in the week ending September 29, 2023. The average 15-year FRM rate also rose to 6.72%.
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Trending: Ethics in rendering broker price opinion (BPO) services
Learn when situations give rise to conflicts of interest in the preparation of a broker price opinion (BPO).
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Real Estate Crossword
Test your real estate fundamentals with the weekly firsttuesday Real Estate Crossword Puzzle! This week, try your hand at Contracts.
Form udpates  RPI Form Updates
 

— No RPI Form updates this week.

 

To access all updated forms, view our RPI Forms library here.
Click on Download the Full Forms Library to download our entire catalog.
 

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