As mortgage rates slow the buying frenzy, long-standing housing supply pressures began to ease. However, the supply of homes remains lower than pre-pandemic averages.
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.
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.
The share of single-family homes purchased by investors went from 16% in 2020 to 24% in 2021, and the outsized presence of mega-investors raises concerns that they are driving up prices and muscling potential homeowners out of the market.
Fueled by the housing supply shortage and historically low mortgage rates during the pandemic, both home prices and rents hit new highs. With home price growth at record levels, some single-family investors sold their rental portfolios to extract the equity gains.
CoreLogic tracks construction cost for commercial, residential and agricultural construction of all types of goods (labor and materials) throughout the United States and Canada.
There are several factors that are near-universal for families when selecting a home, and these center around the well-being of children and their education.
The share of single-family home purchases made by investors dropped by 8 percentage points from Q1 to Q2, suggesting that these buyers may be more sensitive to interest rate increases than owner-occupied buyers
Looking at appreciation alone does not convey the full benefits of owning a home. This is more accurately measured by the sum of price appreciation and rental income flows—the total appreciation.
Nationally, new home sales have increased their downward slide and have been down over 13% for every month of 2022. Compared to May 2020, at the height of the shutdowns, the decline was only 10%.
Adjustable-rate mortgages (ARMs) are up significantly amid rising interest rates and homebuyers and investors are flocking to ARMs for better affordability and yields.
At the end of the first quarter of 2022, the average borrower had $280,000 in home equity — this is a gain of $64,000 over the past year and $125,000 over the past five years. This has led to increased cash-out refinancing and remodeling activity.