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   XPost: talk.politics.guns, sac.politics   
   From: democrat-insurrection@mail.house.gov   
      
   https://ktla.com/news/california/californias-housing-market-is-stuck-in-a-   
   rut-heres-why/   
      
   LOS ANGELES (KTLA) – High mortgage rates continue to drag on home sales in   
   California, according to the California Association of Realtors, which   
   just released its final numbers for 2024.   
      
   Data shows that sales of single-family homes increased by roughly 4% year-   
   over-year, marking the first annual increase in three years. Still, the   
   volume of sales remained well below historical norms.   
      
   “Sales are still pretty weak,” said Guillermo Flores, senior research   
   analyst at the association. “Sales have been below 400,000 per month for   
   31 months in a row.”   
      
   As of Monday, the average 30-year fixed-rate mortgage was 7%, three times   
   higher than the record lows seen during the COVID-19 pandemic. The hope   
   that rates would drop in the near-term, experts say, has faded as the   
   Federal Reserve still grapples with inflation.   
      
   “The question marks have shifted to being more about the economy, how it’s   
   going to hold up, what’s going to happen with inflation,” said Jordan   
   Levine, the association’s chief economist. “I think the macro stuff is   
   going to have an impact on the regional housing market.”   
      
   In terms of prices, the median single-family home in California was   
   $861,020 in December, only $9,000 more than in December 2023. For   
   comparison, the median price in May was $908,000.   
      
   Price growth, CAR said, is stalling.   
      
   “The (price) gain recorded last month was smaller than the six-month   
   moving average between May 2024 and October 2024,” said Oscar Wei, CAR’s   
   deputy chief economist. “The deceleration … is an indication that further   
   softening in home prices could be forthcoming.”   
      
   The San Francisco Bay Area continues to see the highest median home prices   
   in the state, finishing the year at $1.2 million, followed by the Central   
   Coast ($995,000) and Southern California ($850,000).   
      
   Region/County	Dec-24	Nov-24	Dec-23	Price YTY% Chg	Sales YTY% Chg   
   California Single-Family   
   Homes	$861,020	$852,880	$819,820	5.0%	19.8%   
   CA Condo/Townhomes	$664,550	$675,000	$635,000	4.7%	21.3%   
   Los Angeles Metropolitan   
   Area	$815,500	$822,000	$760,000	7.3%	14.2%   
   Central Coast	$995,000	$1,030,000	$979,500	1.6%	20.5%   
   Central Valley	$492,000	$495,000	$462,000	6.5%	15.1%   
   Far North	$369,500	$375,000	$364,500	1.4%	6.3%   
   Inland Empire	$594,950	$600,000	$570,000	4.4%	7.3%   
   S.F. Bay Area	$1,200,000	$1,316,500	$1,182,000	1.5%	14.6%   
   Southern California	$850,000	$850,000	$790,000	7.6%	16.3%   
   California Home Sales Data (California Association of Realtors)   
      
      
   --   
   November 5, 2024 - Congratulations President Donald Trump.  We look   
   forward to America being great again.   
      
   The disease known as Kamala Harris has been effectively treated and   
   eradicated.   
      
   We live in a time where intelligent people are being silenced so that   
   stupid people won't be offended.   
      
   Durham Report: The FBI has an integrity problem.  It has none.   
      
   Thank you for cleaning up the disaster of the 2008-2017 Obama / Biden   
   fiasco, President Trump.   
      
   Under Barack Obama's leadership, the United States of America became the   
   The World According To Garp.  Obama sold out heterosexuals for Hollywood   
   queer liberal democrat donors.   
      
   --- SoupGate-DOS v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)