Planning for the next several years in real estate transactions will require patience and a very different approach to the past decade of recovery economics driven by rate decreases.
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In 2022, the number of consumer mortgage loans originated by DFPI licensees was down a shocking 70% from the prior year.
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Mortgage loan availability fell in July 2023 to its lowest level in a decade for non-qualified mortgages (QMs).
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Would-be renovators are finding themselves wedged between a rock and several hard places.
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Sticky homeowners are unwilling to relieve the inventory shortage in 2023.
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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.
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An overwhelming 95% of community bankers say the economy is already in a recession as of Q2 2023.
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Any seller confidence gained during spring’s meager seasonal boost is premature.
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2023 is seeing fewer independent brokers and more broker associates.
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The yield spread indicates the likelihood of a recession or recovery one year forward.
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Year-to-date, sales volume is a fee-crushing 31% below 2022 as of June 2023.
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In times of softening home prices, the sellers agent will need to be even more sure to provide the buyer with property reports and disclosures.
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Today’s homebuyers remain undeterred by rising interest rates, still-high home prices and slowing sales.
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The typical mortgaged homebuyer is able to borrow 11% less purchase-assist mortgage money than a year ago due to higher interest rates alone.
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California home sales volume in May 2023 was up 22% from the prior month – but down 22% from a year earlier.
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California homeowners lost an average of $60,000 in equity over the past year.
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Sellers who are going to sell within the next five years need to be advised to sell now, not wait.
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Waiting for mortgage rates to drop to the “right” level is mental joy riding.
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While the supply-and-demand imbalance is heading in the right direction — toward stabilization — the rental market is still a long way from normal.
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For the second year in a row, California home sales volume peaked early, falling back in April 2023.
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Your weekly California real estate news digest.
