Housing markets in the South and West, including San Diego, are experiencing a slowdown in rental increases. In July, rental growth in San Diego was flat at -0.1%, with a year-over-year decline of 3.5%. The median rent for a one-bedroom unit is $1,986, and $2,489 for a two-bedroom, significantly higher than the national median. San Diego ranks as the 11th most expensive large city in the U.S. The...
New California bill would allow tenants to report on-time rent payments to credit bureaus. ~17M renters, or 40% of Californians, could benefit from this bill....
California homeowners pay an avg of $2,399 annually, excluding mortgage payments. Californians face additional annual costs: 1. $16,966 for maintenance 2. $6,832 for property taxes...
The Fed has chosen to maintain current interest rates, signaling stability for mortgages in California. Prospects for lower lending rates in California remain dim, with the Fed indicating minimal rate cuts this year....
The Southern California Rental Housing Association reported increased availability and decreased rents in their annual Vacancy and Rental Rate Survey for 2024. Vacancy rate rose to 6.36% from 3.9% last year, with San Diego seeing a rise to 4.22% from 2.64%. Average rent in San Diego County dropped to $2,170 from $2,338 in 2023, and in the City of San Diego, it decreased from $2,266 to $2,189. The...
California home sales in Mid-Q2 totaled 272K Seasonally Adjusted Annual Rate (SAAR), ↓1.1% MoM and ↓6.0% yearly.Mid-Q2 marks the 20th consecutive month that California home sales remained <300K-threshold....
California is approving insurance rate hikes to prevent insurers from leaving the state. The hikes are due to the rising costs of rebuilding after wildfires and other natural disasters....
Experts believe home prices in California may stay below $1M. Increased home sales suggest prices are dropping or steady....
Southern California home prices hit record highs for 3 months straight; the Mid-Q2 increase brought average prices to ~$875K.Low inventory is the culprit behind rising prices; there simply aren't enough homes available to meet buyer demand....
Condo owners in California are reducing asking prices by up to 40 % on Zillow listings. Out of 8,476 condos listed on Zillow in California, 1,973 have had their initial prices reduced....
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