Posts by OfferBanc Marketing

California Association of Realtors – July 19, 2023 Elevated interest rates and limited new listings suppress California home sales in June, C.A.R. reports The statewide median price remains above $800,000 for the third straight month, and the year-over-year price decline is the smallest since January 2023. LOS ANGELES (July 19) – Elevated interest rates and a…

California Association of Realtors – August 07, 2023 – Mortgage rates stay close to their recent high nearly two weeks after the Fed announced another rate hike in late July. Elevated rates have been affecting buyers and sellers’ sentiment and the market will continue to observe low sales in July and August as a result. While the…

July 10, 2023 By Josh Patoka – As first seen on Forbes Advisor The California real estate market is one of the most expensive in the U.S. that’s adjusting to higher mortgage rates and rising inflation. However, the Golden State housing market remains healthy in its various regions, including the tech-savvy Bay Area and multi-faceted…

By Gord Collins  June 21, 2023 Housing Market California May’s home sales and price report from CAR shows more red ink, continue to reflect how depressed the California real estate market has become. First time buyers affordability has continue its downward path as rates stay high and prices edge up. The biggest reduction in affordability year…

BY BEN CHRISTOPHER  MAY 15, 2023 IN SUMMARY When will the law of supply and demand cool California’s housing market? The state is losing population as it builds homes at its fastest clip in more than a decade. This month Californians worried about the cost of housing were offered the rarest of gifts: a glimmer of hope.…

BY GIULIA CARBONARO ON 6/20/23 AT 9:17 AM EDT he Federal Reserve’s recent decision to pause its aggressive rate-hiking program could offer a lifeline to the struggling California housing market, an expert told Newsweek. After raising interest rates 10 consecutive times since March 2022, the Fed announced last week that it would leave its key rate unchanged, as…

June 21, 2023 By Marco Santarelli The California housing market has shown signs of recovery in May, with home sales reaching the highest level in eight months and the median home price surpassing $800,000 for the second consecutive month. Despite the year-over-year decline in sales and price, the market is demonstrating resilience and stability. The stats indicate a rebound…

Mon, Jun 12, 2023 By Jake Arky This article originally appeared on GOBankingRates.com: 8 Places in California Where Home Prices Have Plummeted California is one of the states in the U.S. where dreams really do come true. From the majestic sceneries up and down the coastline to the variety of fresh foods and the industries of Silicon Valley…

MAY 25, 2023 BY ANDREW KHOURI STAFF WRITER (LA TIMES) (This article originally appeared here: https://www.latimes.com/california/story/2023-05-25/southern-california-home-prices-have-been-falling-but-are-the-drops-over ) Last year, rising mortgage interest rates chilled the previously hot Southern California housing market. Buyers backed off, sales plunged and, for the first time in a decade, home prices underwent a sustained slide. By one measure, prices in the six-county region…

June 15, 2023 By Ana Teresa Sola (This article orginally appeared here: https://www.cnbc.com/2023/06/15/rising-interest-rates-affect-california-housing-market-.html ) Key Points: Mortgage rates are likely to remain high despite the Federal Reserve’s pause on interest rate hikes. While that may be good sign for fixed-income funds in California, the pause is a blow to affordable housing in the state, said…