Rents in Southern California are projected to rise modestly over the next two years, with an average increase of $58 per month in Los Angeles County and between $110 and $148 in the rest of the region. The forecast indicates a 3.9% increase, driven by a housing shortage and insufficient construction. While rent hikes are slowing, they follow a period of significant increases during the pandemic. Average...
Current Rent Control Limitations: The Costa Hawkins Act prohibits rent control for homes built after 1995, limiting protections.Proposition 33 Goals: Prop. 33 aims to expand rent control to all housing types, including newer constructions....
The Southern California real estate market is seeing rising home prices despite a sales slump, with the median price reaching around $800,000. The average age of homebuyers is now 56, as younger generations face economic barriers. Luxury properties are in demand, but affordable housing is scarce, causing frustration. Experts foresee ongoing challenges due to economic shifts and supply-demand...
The U.S. office sector is still struggling post-pandemic, with high vacancy rates in California despite major companies pushing return-to-office policies. Nationally, office sales reached $23.8 billion year-to-date, with California accounting for $4.2 billion. The Bay Area led transactions at over $1.8 billion, though prices per square foot fell significantly. Los Angeles remained the most expensive...
Proposition 33 could give cities and counties authority to implement local rent control for newer housing. California currently limits rent increases to 10% for apartments built before 1995....
California's house sales are projected to increase by 10% to 304,400 transactions in 2025. Next year will still be the third-slowest for sales since the Reagan administration....
Home prices in San Diego decreased by 0.7% in August, following a similar decline in July, amid a national trend. Despite this, prices are up 5.7% over the past year. Nationwide, prices fell by 0.1%, with only a few metro areas, including New York, Las Vegas, and Chicago, reaching all-time highs. Experts note that home price growth is slowing, with buyers hesitant to accept high prices as the market...
With a rental cost of $161 per 100 sq ft, California has one of the highest rental prices in the US, with avg rents ~$3K/mo. California homes are spacious, averaging 1,860 sq ft, but buying a home offers better long-term value than renting....
Home prices are starting to normalize across the U.S. but remain high, with record-high mortgage rates making homes unaffordable for many buyers. This has led potential homeowners to search outside expensive urban areas, especially those who can work remotely. Data from Realtor.com's Cross-Market Demand Report reveals the top metros looking to buy homes in San Diego, with Los Angeles leading at...
Home Sales: Projected to increase by 10.5%, reaching 304,400 units as interest rates drop and more homes enter the market. Median Home Price: Expected to rise 4.6%, bringing the median price to $909,400, supported by high demand and limited supply....
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