Home Sales Increase: Projected rise of 10.5% in single-family home sales, reaching 304,400 units in 2025.Price Growth: Median home price expected to rise 4.6%, reaching $909,400 in 2025 due to high demand....
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Steve@SteveBeaupre.com
2024
Homeowners in Southern California are utilizing a state law that permits lot splitting and increased density to enhance housing supply and affordability. Following the passage of SB 9, homeowners in San Diego are beginning to sell or develop unused property portions. While the law aims to lower construction barriers, cities and homeowner groups are challenging it. To maximize its impact, builders...
California's RHNA process has not balanced housing supply with demand or improved affordability significantly.The current RHNA quota requires 1.3M new homes by 2029, based on outdated population projections....
San Diego, covering over 960 km² and home to 1.3 million residents, offers diverse neighborhoods with unique lifestyles. Key areas include La Jolla, known for upscale coastal living; Little Italy, famous for its vibrant food scene; Hillcrest, recognized for its inclusivity and nightlife; Carmel Valley, ideal for families with modern amenities; and East Village, a trendy urban hub. Each neighborhood...
Home prices are normalizing but remain high, with record mortgage rates making homes unaffordable for many buyers. This has led potential homeowners to search outside expensive urban areas, especially with remote work options. Data from Realtor.com's Cross-Market Demand Report shows the top cities looking to buy homes in San Diego, with Los Angeles leading at 37.1% of views, followed by Riverside...
Growth Expected: Sales and prices are predicted to rise, with median home prices hitting $909,400 in 2025. Lower Interest Rates: A projected drop to 5.9% for 30-year mortgages should drive market activity by easing the "lock-in" effect....
California homeowners face widespread insurance non-renewals due to increased wildfire risks and rising costs. Tens of thousands of residents have lost insurance policies, leaving fewer options in high-risk areas....
California’s rental security deposit law limits the amount landlords can charge and specifies its allowed uses. Landlords can charge one month’s rent, but smaller landlords can charge up to two months’ rent....
Bakersfield MSA is projected to grow by 1.8% due to affordability and a strong job market. Riverside-San Bernardino MSA also expects 1.8% growth, attracting buyers with lower urban costs....
San Francisco MSA is projected to decline by 3.5%, driven by high living costs and remote work trends. Eureka MSA expects a 4.7% drop, largely due to stagnant job growth and high living expenses....