Housing shortage, racial disparities, regulations challenge to California housing market
Friday, November 22, 2024
The Center for California Real Estate, an institute of the California Association of Realtors, hosted its flagship event of the year, the "CCRE Housing Summit: Charting California's Future," in Los Angeles on Oct. 30. The Summit brought together thought leaders from government, business, and academia to address the most pressing challenges facing California's housing market.
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NAR chief economist: Worst of housing inventory shortage may be over
Friday, November 15, 2024
Last year was a difficult year for home sales; this year will likely not show much improvement, according to National Association of Realtors chief economist Lawrence Yun. However, looking ahead, Yun predicts the worst of the housing inventory shortage coming to an end, mortgage rates stabilizing, and job additions continuing.
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Places with creepy names have interesting origins
Tuesday, October 29, 2024
The name of a place is usually based on its history; however, many places across the U.S. have strange, even creepy, names that one wonders how they got their name. In the spirit of Halloween, Silicon Valley Realtors researched the origin of scary names of some places listed by realtor.com and other sources, including the Farmer's Almanac and housebeautiful.com.
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5 things homebuyers should consider after the rate cut
Friday, October 11, 2024
"Due to pent-up demand in housing, especially in the Silicon Valley region, homebuyers and sellers have been closely watching mortgage interest rates and tracking home prices. The Federal Reserve's recent decision to cut interest rates by half a point will likely incentivize homebuyers sitting on the sidelines to continue their search," says Eileen Giorgi, president of the Silicon Valley Association of Realtors.
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National Association of Realtors shares consumer guide on negotiating written buyer broker representation agreements
Monday, September 30, 2024
As part of the National Association of Realtors settlement agreement related to broker commissions, as of August 17, buyers nationwide are required to sign a written buyer broker representation agreement after they have selected a real estate professional they want to work with. On Sept. 24, Gov. Gavin Newsom signed AB 2992 (Nguyen), a California Association of Realtors-sponsored bill limiting buyer broker representation agreements to three months. The new law, which takes effect on Jan. 1, 2025, makes California one of 28 states requiring homebuyers to have such an agreement with their agents.
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What economists are saying about the current market
Tuesday, September 10, 2024
Judging from recent economic indicators and from Federal Reserve Chair Jerome Powell's latest comments about inflation, rates are poised to start coming down soon. Here is what some economists are saying based on their latest observations about the market:
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Realtors remind home sellers to keep their home and valuables safe
Friday, September 6, 2024
During Realtor Safety Month in September, the Silicon Valley Association of Realtors issues safety tips for Realtors and their clients. Sellers, in particular, face some risks in allowing strangers into their home during a showing or open house.
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Lowest mortgage rates since spring revive July home sales
Friday, August 30, 2024
The lowest interest rates since spring triggered a rebound in California home sales in July. According to the California Association of Realtors, July's sales pace rose 3.6% from the revised 270,200 homes sold in June and were up 4.1% from a year ago. Except for the Far North, where the Park Fire began in late July, home sales in all regions rose higher than July 2023. Home sales in the San Francisco Bay Area sales increased the most at 19.2%, and were up by 1.3% from June.
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