The Southern California Home Resale Activity report is updated monthly to show the most recent sales volume and median prices for existing single family and condo sales for each SoCal zip code and county.
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Price growth that outstrips rent gains over an extended period could be a sign that homes are overvalued if capitalization rate had remained unchanged.
PACE is an abbreviation for Property Assessed Clean Energy. PACE loans provide financing for green and renewable energy home improvements, although it is not limited to such. Retrofitting properties with energy upgrades is costly, and PACE provides incentives such as 100% long-term financing.
The California by City Home Sale Activity report is updated monthly to show the most recent sales volume and median prices for each city in most California counties, as well as county totals and prices.
Between December 2020 and March 2022 the average mortgage rate on 30-year, fixed-rate mortgages jumped up by 149 basis points or 1.49%, whereas rates on 5/1 adjustable-rate mortgages increased by only 40 basis points for the same period. This increase in mortgage rate on FRM is incentivizing buyers to take out ARMs.