Tagged: California Association of Realtors

September’s decline leaves originators competing for fewer purchases, while rising borrowing costs and limited new listings keep affordability under pressure

California credit union adds HELOC and fixed-rate second-mortgage options as lenders compete for homeowners unwilling to refinance low-rate first mortgages

Lower mortgage rates and softer home prices improved affordability statewide, though most households remain priced out

Faster deal timelines and declining inventory highlight growing split in housing demand

In Q1 2025, 17% of Californians could afford a median-priced, single-family home

Only 18% of Californians could afford a median-priced home in 2024, with affordability gaps persisting across ethnic groups

Higher rates and home prices worsen California's long-term affordability challenges

CAR expects home prices to soften as inventory rises and competition cools

The California Association of Realtors reports that the median home price rose 7.7% year-over-year.

Persistent high interest rates and scarce inventory lead to steep decline in affordability.