News — Headlines

Real Estate Roundup: U.S. Housing Inventory Sees Biggest Annual Increase in Five Years

Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. SAN JOSE POSTS NATION’S LARGEST HOUSING-SUPPLY GAIN IN SEPTEMBER The U.S. housing market got a much-needed inventory boost in September, though there are still not enough properties for sale to meet demand. That’s according to a realtor.com report, which says that new listings on its website rose by 8 percent...

Bay Area Buyers Require the Country’s Largest Incomes to Afford a Home

U.S. home affordability dropped to a 10-year low in the third quarter according to research from ATTOM Data Solutions. Households in San Mateo, San Francisco, Santa Clara, and Marin counties must earn more than $300,000 per year to afford the median-priced home assuming a 3 percent down payment. Home price appreciation outstripped wage growth from the third quarter of last year in 86 percent of...

Downsizing Homes Can Save Californians Big Bucks

Homeowners in Los Angeles can save $750,000 by trading in a five-bedroom home for a three-bedroom home. Downsizing by two bedrooms in San Francisco can save owners as much as $677,500. Selling a five-bedroom home then buying a three-bedroom home saves six figures in 19 of 20 major California cities. Many Golden State baby boomers and other empty-nesters may no longer need that spacious home...

U.S. Home Price Growth Slows to 2-Year Low in August

A new CoreLogic report says that home prices rose by 5.5 percent year over year in August, with appreciation expected to further slow by the same time next year. California home prices were up by 7.5 percent from August 2017, and gains are projected to increase slightly by August 2019. The San Francisco metropolitan area posted a 9.8 percent annual home price increase, the second-highest...

California Projected to Post the Largest Home Price Gains in the U.S. by Next Summer

California home prices are expected to increase by 9.1 percent by July 2019. Golden State homeowners gained an average of $49,000 in home equity between the second quarter of 2017 and the second quarter of 2018. The San Francisco metropolitan area has the lowest number of underwater homes in the U.S., accounting for only 0.5 percent of properties. Golden State homeowners once again enjoyed the...

Real Estate Roundup: East Bay ZIP Code Named Among the Nation’s 5 Hottest Real Estate Markets

Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. Lake Chabot as seen from Castro Valley CASTRO VALLEY NAMED ONE OF 2018’S MOST IN-DEMAND U.S. HOUSING MARKETS Relative affordability is helping to draw homebuyers to the quiet Alameda County city of Castro Valley, making it one of the hottest ZIP codes in the country this year. That’s according to...

Proposition 10: Possibly the Worst Approach to California’s Current Housing Crisis

What is Proposition 10? Proposition 10 is a statewide ballot initiative in the November 2018 election that aims to repeal the Costa-Hawkins Housing Act. While Proposition 10 has become a polarizing issue, it is critically important to understand what it does and does not do. What is the Costa-Hawkins Rental Housing Act? The Costa-Hawkins Rental Housing Act was passed by the California legislature in 1995...

The Number of Americans Who Think Now Is a Good Time to Sell a Home Climbs to Record High

More than three-quarters of respondents to a new National Association of Realtors’ poll believe that now is a good time to sell a home. Sixty percent of Americans think that the economy is improving, also an all-time high. Seventy percent of Americans say that top-performing schools are either somewhat or very important when purchasing a home. Both the number of Americans who believe that the...

San Francisco Has the Nation’s Tightest Housing Supply Conditions

The San Francisco metropolitan area had a 2.0-month supply of homes for sale in July, the lowest of any major U.S. housing market. Home prices in San Francisco rose by 11 percent year over year in July, nearly double the national rate of appreciation. More than 80 percent of homes in San Francisco sold for list price or higher, the most in the country. Although...

The Home Amenity That Americans Cannot Live Without

About 80 percent of Americans who live in houses and apartments say that a central air-conditioning and heating system is a nonnegotiable feature. Millennials are willing to spend the most extra money for a dwelling with a climate-control system. A private outdoor space and an in-unit washer and dryer are also high on Americans’ list of top property amenities. While most homebuyers are willing to...