California home sales volume in September 2023 was down 14% from the prior month — and down 20% from a year earlier.
Recession 2020
It’s official — the 2020 recession is over. So why isn’t the economy back to normal? firsttuesday sketches out the shape of the housing market beyond the pandemic.
Trending article:
The 2020 recession was the shortest ever — but its effects continue in the housing market
Latest posts
Alternative fee structures to attract clients when home prices are falling
Sellers attempting to save money when prices are falling often turn to FSBOs – here’s how you can regain fee-adverse clients.
Rental vacancies advance; rents fall back. Surprised?
The rent is still too darn high — but not as high as it was yesterday here in California.
As consumer mortgage complaints jump — originations plummet
In 2022, the number of consumer mortgage loans originated by DFPI licensees was down a shocking 70% from the prior year.
Tightened mortgage standards lock out mid- to high-tier homebuyers, sellers
Mortgage loan availability fell in July 2023 to its lowest level in a decade for non-qualified mortgages (QMs).
No one wants to sell — does that mean the renovation revolution is here?
Would-be renovators are finding themselves wedged between a rock and several hard places.
Today’s homeowners are stuck on yesterday’s rates
Sticky homeowners are unwilling to relieve the inventory shortage in 2023.
The news media has the wrong take on mortgage rates
Media pundits in their coverage of today’s high mortgage interest rates ignore the 60-year cycle of rising and falling mortgage rates and the seller’s pricing response to rising and falling rates.
Community bankers agree: the recession is here
An overwhelming 95% of community bankers say the economy is already in a recession as of Q2 2023.
Price cuts moderate during spring bump, with more to come
Any seller confidence gained during spring’s meager seasonal boost is premature.
Independent no more, brokers seek brokerage employment
2023 is seeing fewer independent brokers and more broker associates.
California home sales volume: June 2023 sees an end to seasonal bump
Year-to-date, sales volume is a fee-crushing 31% below 2022 as of June 2023.
Ready to get ahead of the recession?
For over 40 years, firsttuesday has been DRE-approved to provide quality, California-specific real estate licensing courses.