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Sunday, November 13, 2016
NOVEMBER 2016 ORANGE COUNTY REAL ESTATE NEWS
OCTOBER 2016 ORANGE COUNTY REAL ESTATE NEWS
C.A.R. RELEASES 2017 CALIFORNIA HOUSING MARKET FORECAST
Home sales expected to edge up slightly in 2017, while prices post slowest gain in six years
LOS ANGELES (Sept. 29) – Following a dip in home sales in 2016, California’s housing market will post a nominal increase in 2017, as supply shortages and affordability constraints hamper market activity, according to the "2017 California Housing Market Forecast," released by the California Association of Realtors.
The C.A.R. forecast sees a modest increase in existing home sales of 1.4 percent next year to reach 413,000 units, up slightly from the projected 2016 sales figure of 407,300 homes sold. Sales in 2016 also will be virtually flat at 407,300 existing, single-family home sales, compared with the 408,800 pace of homes sold in 2015.
"Next year, California’s housing market will be driven by tight housing supplies and the lowest housing affordability in six years," said C.A.R. President Pat "Ziggy" Zicarelli. "The market will experience regional differences, with more affordable areas, such as the Inland Empire and Central Valley, outperforming the urban coastal centers, where high home prices and a limited availability of homes on the market will hamper sales. As a result, the Southern California and Central Valley regions will see moderate sales increases, while the San Francisco Bay Area will experience a decline as home buyers migrate to peripheral cities with more affordable options."
C.A.R.’s forecast projects growth in the U.S. Gross Domestic Product of 2.2 percent in 2017, after a projected gain of 1.5 percent in 2016. With California’s nonfarm job growth at 1.6 percent, down from a projected 2.3 percent in 2016, the state’s unemployment rate will reach 5.3 percent in 2017, compared with 5.5 percent in 2016 and 6.2 percent in 2015.
The average for 30-year, fixed mortgage interest rates will rise only slightly to 4.0 percent in 2017, up from 3.6 percent in 2016, but will still remain at historically low levels.
The California median home price is forecast to increase 4.3 percent to $525,600 in 2017, following a projected 6.2 percent increase in 2016 to $503,900, representing the slowest rate of price appreciation in six years.
"With the California economy continuing to outperform the nation, the demand for housing will remain robust even with supply and affordability constraints still very much in evidence. The net result will be California’s housing market posting a modest increase in 2017," said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. "The underlying fundamentals continue to support overall home sales growth, but headwinds, such as global economic uncertainty and deteriorating housing affordability, will temper stronger sales activity."
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Friday, August 19, 2016
AUGUST 2016 ORANGE COUNTY REAL ESTATE NEWS
MORTGAGE RATES DIP; LOAN APPLICATIONS DOWN, TOO
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31405 Monterey Street
$2,249,000
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1961 San Remo Drive
$2,499,000
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JULY 2016 LAGUNA BEACH STATISTICS
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Wednesday, June 22, 2016
JUNE 2016 REAL ESTATE NEWS ORANGE COUNTY COASTAL NEWS
Supply of O.C. homes for sale jumps 10% in a month
Orange County homeowners have made a springtime rush to sell, raising the supply of homes listed by 10 percent in a month. ReportsOnHousing said 6,601 homes were for sale in brokers’ listing networks as of June 2, up 336 in two weeks and 601 in a month. Orange County’s housing market, which has struggled with limited options for house hunters, now has supply that’s 5 percent greater than a year ago.
Here’s how supply growth jumped by price level in the past month:
• Under $500,000: Up 7 percent.
• $500,000 to $750,000: Up 17 percent.
• $750,000 to $1 million: Up 15 percent.
• $1 million to $1.5 million: Up 6 percent.
• $1.5 million to $2 million: Flat.
• $2 million to $4 million: Up 5 percent.
• $4 million-plus: Up 7 percent.
ReportsOnHousing analyst Steve Thomas wrote: “As more homes come on the market and demand drops during the summer months, the housing market will cool. It is still a hot housing market, but the growth in inventory is a glaring sign that the window of opportunity to take advantage of the hottest time of the year to sell is closing. Due to the increased competition, the sizzling hot housing market is transitioning to a slight seller’s market.”
Buyers have pulled back in the same period. ReportsOnHousing said 3,022 pending sales were in escrow, virtually the same from a year ago but down 4 percent in two weeks. The last mid-spring drop was in 2010.
But the market has not yet dramatically shifted away from one with a seller’s advantage.
ReportsOnHousing’s “market time” – a benchmark of market speed – showed the typical home selling in 66 days on June 2 vs. 60 days two weeks earlier, and 62 days a year ago. Any reading under 90 days is considered by Thomas to be a “seller’s market.”
Source: OC Register 6/6/16
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May 2016 LAGUNA BEACH statistics
Active - 255
Pending - 54
Sold - 65
4 - Less than $1,000,000
20 - $1,000,000 - $2,000,000
16 - $2,000,000 - $3,000,000
6 - $3,000,000 - $4,000,000
7 - $4,000,000 - $5,000,000
3 - $5,000,000 - $6,000,000
6 - $6,000,000 - $10,000,000
1 - $10,900,000
1 - $17,500,000
1 - $19,900,000
Pending - 54
Sold - 65
4 - Less than $1,000,000
20 - $1,000,000 - $2,000,000
16 - $2,000,000 - $3,000,000
6 - $3,000,000 - $4,000,000
7 - $4,000,000 - $5,000,000
3 - $5,000,000 - $6,000,000
6 - $6,000,000 - $10,000,000
1 - $10,900,000
1 - $17,500,000
1 - $19,900,000
Tuesday, May 10, 2016
MAY 2016 COASTAL ORANGE COUNTY REAL ESTATE NEWS
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1070 Miramar St, Laguna Beach www.1070Miramar.com Sweeping panoramic ocean and Catalina Island sunset views from virtually every room of this beautifully remodeled and move-in-ready home. Price Improvement to $1,355,000 |
O.C., L.A. and Inland Empire
Homes
are Overpriced, Trulia Reports
Real estate website Trulia ranks Orange County, Los Angeles and the
Inland Empire among the five most overvalued housing markets in the U.S.
Southern California is home to some of
the most overpriced housing markets in the country. And that's taking the wind
out of the recovery.
Three Southland regions ranked among
the five most overvalued markets in the U.S. in a new report by real estate
website Trulia. These are places where the housing costs have far outpaced
growth in income.
Separately Tuesday, the closely watched
S&P/Case-Shiller index reported that Los Angeles home prices inched down in
January — the first monthly decline in two years.
"Southern California has seen big
price increases since the bottom," said Jed Kolko, Trulia's chief
economist, "without big increases in income."
March 25, 2014|By Tim Logan and Andrew Khouri
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We Hope You Had a Happy Mother's Day
In honor of Mother’s Day, the
folks at Trulia found the homes of several of the most beloved moms
in American film, including estimates of how much these six famous houses would
cost today.
From the little yellow
bungalow in Manhattan Beach, CA, where Dorothy Boyd lives in Jerry Maguire; to
the on-screen Atlanta, GA, home of real-life interior designer and mom Leigh
Anne Tuohy in The Blind Side.
Was
your favorite on-screen mom on the list? You can read the short article here, or go straight to the list via this infographic .
To all the moms we hope you had a truly marvelous Mother's Day! |
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April 2016 Sales Statistics for Laguna Beach:
243
Active Listings*CRMLS 5/9/16
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IN ESCROW
After Just Two Weeks on the Market
Listed by
HortonsInLaguna.com
3003 Mountain View Dr, Laguna Beach
$1,695,000
www.3003MtnView.com
Thinking of Buying or Selling?
Amanda and Pamela
Committed To Your Success During
The Best Buying or Selling Experience Possible!
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IN ESCROW
After Just Two Weeks on the Market
Listed by HortonsInLaguna.com
3003 Mountain View Dr, Laguna Beach
$1,695,000
www.3003MtnView.com
After Just Two Weeks on the Market
Listed by HortonsInLaguna.com
3003 Mountain View Dr, Laguna Beach
$1,695,000
www.3003MtnView.com
Thinking of Buying or Selling?
Amanda and Pamela
Committed To Your Success During
The Best Buying or Selling Experience Possible!
Complimentary Market Evaluations
and Personalized Lists of Homes For Sale.
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