-
Pending Home Sales Sink to 5-Month Low As Mortgage Rates Rise
The number of homes going under contract fell 3.7% week over week nationwide—the steepest decline since 2022—as would-be buyers pressed pause amid high mortgage rates. New listings ticked up. We’re taking a break from analysis this week, but please see the tables and charts below for this week’s housing-market data. Happy August! For Redfin economists’…
-
Slow Summer Housing Market Gives Buyers More Time, Choices and Negotiating Power
Homebuyers have more choices and more time to make decisions as the market has slowed this summer and sellers are increasingly adjusting their expectations to match, according to Redfin agents. Well-priced, move-in-ready homes are still selling quickly, showing that buyer demand is strong for desirable properties. The U.S. housing market has settled into a slower…
-
LA’s homelessness uptick lets Raman target Bass. If only accountability was that simple
L.A. City Councilmember Nithya Raman criticized Mayor Karen Bass over the increase in homelessness, but disentangling the records of the two candidates on this issue is difficult.
-
California’s catch-22: Who should pay when utilities’ power lines cause wildfires?
Gov. Gavin Newsom is asking legislators to limit utilities’ liability if their equipment ignites fires. Meanwhile SoCal Edison’s tower is blamed for the deadly Eaton fire.
-
Why insurance matters to renters, landlords and California
Insurance affects the cost of rent, housing supply and recovery from disaster.
-
As AI ‘therapists’ dish out advice, California lawmakers try to set some limits
With the rise in popularity of chatbots and AI use in mental healthcare, lawmakers are pushing legislation that they say is needed to protect consumers.
-
Why truckers always seem to be on the phone while they drive
The next time you’re driving along the highway, you may spot truckers cruising by, chatting on their cellphones. That’s not necessarily a bad thing when it comes to your safety or their mental health, writes Gagandeep Singh for CalMatters. Gagandeep spoke to truckers about their cellphone use on the road, where they drive long hours…
-
The Income Needed to Afford Typical American Home Holds Steady Near Record High of $110,000
Housing costs keep rising, but so do incomes, leaving the income required to afford a home largely unchanged from last year’s record high. The income needed to buy a home is roughly $22,000 above what the typical U.S. household earns. But the gap is shrinking: it was $26,000 a year ago, and $29,000 two years…
-
First-Time Buyers Catch a Break As Affordability For U.S. Starter Homes Improves Slightly Faster Than Overall Market
Starter-home affordability is improving: The income needed to afford a typical U.S. starter home is down 1.5% from a year ago, marking eight straight months of declines as price growth cools. Affordability for entry-level homes is improving more than the overall market: The income needed to buy the typical U.S. home is down just 0.5%…
-
Band-Aid, not a cure: federal Colorado River plan leaves states guessing every two years
No long-term deal means water agencies around California and the West are stuck guessing how deep cuts on the Colorado River will go.
