For the second year in a row, California home sales volume peaked early, falling back in April 2023.
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
Commercial mortgage lending slides in 2023
MLOs betting their income on commercial and multi-family lending in 2023 will be disappointed.
Unlicensed finance company president found guilty of operating mortgage fraud scheme
The president of a mortgage foreclosure consultant company was convicted of 100 felony counts for operating a mortgage fraud scheme in California.
![MLO Recession Side Hustle Guide [e-book]](https://journal.firsttuesday.us/wp-content/uploads/MLO-ebook-title-page-400x250.png)
MLO Recession Side Hustle Guide [e-book]
Learn how mortgage origination providers will survive the ongoing downturn in mortgage originations with this RPI ebook.
Spring price cuts, days-on-market, continue to climb
Seller price cuts and days-on-market continue to escalate across California in Spring 2023.
The liquidated damages provision and the breaching buyer’s deposit when prices decline
Agents need to be aware of the maximum dollar amount the seller is entitled to receive upon a buyer’s breach – especially when home prices are falling.
Fewer new listings as California’s for-sale inventory dips
The number of new listings is down dramatically across California’s major metros.
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.
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.