The number of new listings is down dramatically across California’s major metros.
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.
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The 2020 recession was the shortest ever — but its effects continue in the housing market
Latest posts
California home sales volume inches forward in March 2023
After a year of steadily decreasing sales, California home sales volume is struggling without a rebound in 2023.
Bankruptcy’s tie to homeownership
Bankruptcy numbers were artificially low in 2020-2021. Prepare for today’s zombie businesses to fold with the 2023 recession.
Loan production costs are drowning mortgage brokers
Just 32% of loan companies were able to remain profitable in 2022.
Press Release: Q1 2023 Buyer Purchasing Power Index down 23% from a year earlier
A homebuyer with the same income is able to borrow 23% less purchase-assist mortgage money than a year ago due to interest rate hikes alone.
California home sales volume crawls higher in February 2023
Just 16,900 new and resale home transactions closed escrow in California during February 2023.
National mortgage balances increased by $1 trillion in 2022
During the fourth quarter of 2022, total national mortgage debt increased by $254 billion, contributing to a $1 trillion increase in mortgage balances in 2022.
Due-on leasing regulations
Landlords and property managers need to know what triggers and exempts the due-on clause, since mortgage holders enforce the due-on clause more frequently in times of rising interest rates.
ARM-FRM crossover removes last support for home prices
The interest rate inversion has completely eliminated the appeal of ARMs — and the price support ARMs provided before the inversion.
Mortgage delinquencies rise from historic low
While home sales volume is plummeting and home prices are spiraling, there is one housing factor on the rise — mortgage delinquencies.
California home sales volume broke another decade low in January 2023
California home sales volume started 2023 with the lowest numbers since the Great Recession.
Stagflation woes put California’s housing market on alert
Will stagflation rear its ugly head again in 2023, pushing the housing market deeper into recession?
Ready to get ahead of the recession?
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