Coming Up… Spring

Spring is just around the corner. The days are growing longer, temperatures are slowly rising, trees that had lost their leaves are blanketed with new buds about to burst to life. Spring officially begins on Saturday, March 20th, and it is also the start to housing’s Spring Market, the busiest time of the year for housing. More homes are placed into escrow during the Spring Market than any other time of year. That is when the FOR-SALE sign is adorned with a smaller “SOLD” sign, letting the world know the home is no longer available to purchase.…

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California home sales edge higher in February

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Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 424,640 in February, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2022 if sales maintained the February pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales. February’s sales pace was down 4.5 percent on a monthly basis from 444,540 in January and was down 8.2 percent from a year ago, when 462,720 homes…

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Rising Rates Vs. No Inventory

The supply chain problems have been well documented across the United States and around the globe. One of the hardest hit industries is new cars. The supply of available new cars has dwindled down to record lows. As a result, dealers are adding a “market adjustment fee,” a line-item cost above the MSRP. The fee ads anywhere from a few thousand dollars to as much as $20,000 more for a popular model. It has everything to do with supply and demand. Consumers looking for a new car are confronted with very few options and rising car prices.…

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California housing market remains resilient in January

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California housing market remains resilient in January despite rising interest rates, C.A.R. reports Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 444,540 in January, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2022 if sales maintained the January pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales. January’s sales pace was up 3.4 percent on a monthly basis from 429,860…

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