California Real Estate Information You Should Know #homeownership #realestate #investment

Real Estate News - Information You Can Use
Source:  California Association of Realtors

U.S. home prices rose 7.7 percent in November, the largest year-over-year increase in 14 months, according to Redfin, the real estate brokerage.  Home sales rebounded after a tepid October, growing 20.1 percent, the biggest annual gain since July 2015.

"Last year we saw a temporary slump in November sales as new mortgage industry regulations went into effect and delayed some closings," said Redfin chief economist Nela Richardson.  "Now, those regulatory hurdles have largely been resolved but the market is by no means back to normal.

Competitive markets included San Francisco where 60.6 percent of homes sold above list price, followed by 53.8 percent in Oakland; 52.7 percent in San Jose, 38.8 percent in Seattle; and 35.7 percent in Portland.

Orange County ranked 17th in evictions among the 32 large metros, with one out of every 63 renters getting evicted that year.  In Los Angeles County, the eviction rate ranked 20th with one out of every 80 renters losing their home.

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