We will discuss the latest California housing market trends & prices and find out how they can affect the investors and homebuyers in the latter half of 2020. Just like the rest of the nation California's housing market has also been impacted by the ongoing pandemic. However, the good sign is that home sales bounced back in June by almost after hitting a record bottom in May. After the California real estate market suffered its worst month in 13 years, California’s Realtors and landlords saw a big rebound in the housing market in Los Angeles, San Francisco, San Jose, San Diego, and Sacramento, in June.

Home Sales were up 42.4 percent from May and down 12.8 percent from June 2019. The luxury market suffered the most with more than 50% drops in sales. Sales Price to List Price Ratio of 99.5% in June means homes are selling for very close to their listing prices. June’s statewide median home price was $626,170, up 6.5 percent from May and up 2.5 percent from June 2019. Throughout the state, single-family home prices rose 6.5% to $626, 170, or a rise of $38,000 from the previous month. Sales grew 42.5% from May.

California condo prices rose 4.6% as a month to month sales increased by 68.5%. Condo prices have risen 4.6% YoY while sales slumped 16.2%. The return in the COVID-19 cases remains a concern across the nation as well as California, and it may hinder the recovery of the housing market in the second half of 2020. Meanwhile, the lowest ever mortgage rates have been able to increase the buyer activity, which in turn may help to sustain the rise in sales in the coming months.

The latest “CALIFORNIA HOUSING MARKET REPORT” is given below.

[Read more…]

Let’s take a look at the current state of the San Antonio real estate market amid the coronavirus pandemic. Then we’ll discuss the investment opportunities in San Antonio for real estate investors. San Antonio is one of the best places to visit and has one of the fastest-growing economies in the country, driven by sectors such as military, tourism, health care, and insurance. San Antonio housing prices rose by around 5% in the last year due to strong demand.

Before this pandemic hit the nation, even though the San Antonio housing market had cooled off a bit, the home values were expected to climb but at a slower pace in 2020. Realtor.com had predicted that prices for single-family homes in the San Antonio metro area will climb by just 0.8 percent in 2020. According to the latest MLS report by “SABOR,” since the start of 2020, there have been 9,089 active listings and 16,840 total home sales in the city with an average of 64 days on the market.

This further demonstrates the ongoing supply of homes as they sell. In June, San Antonio's average price of a home increased by 3% as compared to June 2019. Year-to-date, the average price has shown an increase of 5% to $278,395. The reports showed 3,823 homes sold in San Antonio during the month of June, an increase of 14 percent. The month of June shows an increase in all four categories indicating stability in the market. The complete up-to-date San Antonio housing market report is given below.

[Read more…]

We will discuss the latest Los Angeles housing market trends & news and find out how they can affect the investors and homebuyers. The shutdown due to coronavirus pandemic had an impact on the California economy and the real estate sector well. Home sales dropped over the past couple of months but prices remain high. In June, we saw a rebound in home sales. In Metro Los Angeles, home prices rose $18,000 or 11.6% to a new level of $553,000. Jump in sales was 48%. All the six counties of southern California saw an increase in sales as compared to May.

In LA county, the jump in the existing home sales was the highest from May, at 37.50%. All these figures are still lagging if we compare them to last year's June. The rise in home prices and sales have shifted the market conditions to a balanced one. The inventory still remains tight, and with the surge in the Covid-19 cases, sellers may back out again to further decrease the listings.

In Los Angeles County, sales rose 40.8% from May and fell 24.3% from a year earlier. The median price rose 4% from a year earlier to $643,000. In Orange County, sales rose 49% from May and fell 22.1% from a year earlier. The median price rose 4.1% from a year earlier to $765,000. The latest “LOS ANGELES HOUSING MARKET REPORT” is given below.

[Read more…]

Let’s take a look at the current state of the Portland real estate market amid the coronavirus pandemic. Then we’ll discuss the investment opportunities in Portland for real estate investors. When COVID19 hit Oregon hard in March of 2020 the homebuyer turnout decreased massively. In April, things improved a bit. Portland buyer traffic increased about 40% from March but it was still down about 30% from April of the previous year. Things improved further in May when pending sales and new listings surged in the Portland housing market.

The average sale price in the Portland-area dipped by a mere 0.8% to $467,500 in May compared to April 2020′s $477,400. The median sale price held steady from April ($424,000) to May ($425,000). In May 2020, there was a 2.3 month supply of homes for sale, which was steady with April 2020′s 2.4 month supply but an increase from March 2020′s 1.8 month supply. The latest “PORTLAND HOUSING MARKET REPORT” is given below.

[Read more…]