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December 2024

Southern California Housing Prices Reach Record Heights

Home prices in Southern California are reaching record highs, with San Bernardino County's median price hitting $525,000, a 6% increase from last year. Riverside County also saw a 5.4% rise, now over $600,000. Population shifts from coastal cities to more affordable areas have driven demand, attracting investors and increasing competition. This surge raises concerns about affordability,...

More California Cities Are Banning Landlords From Using AI Software to Raise Rents

California officials are taking action against RealPage, a company accused of hindering competition and driving up rents through its revenue management software. The California Attorney General stated that RealPage's practices have made housing more difficult for millions. The company claims its technology benefits the rental market and plans to defend itself against a federal antitrust lawsuit....

USC Casden Forecast Calls for SoCal Rent Increases to Continue

The USC Casden Real Estate Economics Forecast predicts rent increases in Southern California over the next two years, despite the economy's resilience not addressing the housing shortage. Mortgage rates remain high, impacting new housing supply and affordability. While the mortgage market may improve as rates drop, construction has slowed, leaving California behind states like Florida and Texas in...

SoCal developer addressing housing supply shortage – releases floor plans priced in the mid $400Ks

Silverwood developers have unveiled floor plans for a master-planned community in Hesperia, with homes starting in the mid $400,000s, targeting middle-income buyers in Southern California. The 9,366-acre project aims to address the region's affordable housing shortage, with plans for 15,663 homes, including single-family houses, townhouses, and condominiums. Five builders will construct the first...

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