California Association Of Realtors
Experts believe California’s housing market will see fewer investors and a return to traditional home buyers as home sales rise modestly and prices flatten out next year.
In spite of extremely low interest rates, California’s real estate market continued to cool off this summer, with pending home sales figures dipping for the fourth straight month, the California Association of Realtors reported Tuesday.
Southern California home sales fell in November as investors showed less interest and the supply of properties for sale remained thin compared to last year, a research firm said Monday. Prices held steady from October.
California housing prices cooled in September as inventories grew and investor interest waned, a research firm reported Thursday, offering fresh evidence that the market is taking a breather after a torrid spring and summer.
California posted its strongest homes sales for any August in seven years as price increases cooled, a research firm said Friday, a relief to buyers who have been competing over slim pickings.
Southern California home prices rose in May at the fastest annual clip in nearly nine years as investors and cash purchasers competed for a thin supply of properties for sale, a research firm said Tuesday.
California home prices rose in September to a four-year high as the supply of properties for sale remained tight, according to surveys released Monday.
The Federal Housing Finance Administration is moving ahead with the planned sale of about 500 Fannie Mae-owned homes that have been foreclosed in Los Angeles and the Inland Empire despite protests from the California Association of Realtors.
Home sales in Los Angeles County jumped nearly 12 percent in June compared to a year ago, while prices rose by more than 2 percent, according to real estate firm DataQuick.
Real estate agents in California are accusing banks of dragging their feet on so-called short sale transactions, where lenders allow homes to be sold for less than what is owed on them.
Californians looking to sell their homes can now offer prospective buyers a form of unemployment insurance under a program being rolled out by the state’s real estate agents’ association.