Irvine Real Estate News
Irvine
U.S. Homes With Mortgages See First Annual Equity Losses Since 2012
Based on CoreLogic's latest Homeowner Equity Report for the first quarter of 2023 shows that U.S. homeowners with mortgages (which account for roughly 63% of all properties) saw home equity decrease by 0.7% year over year, representing a collective loss of $108.4 billion, and an average loss of $5,400 per borrower since the first quarter of 2022.
California Home Sales Dive 36 Percent Annually in April
According to the California Association of Realtors, a surge in mortgage interest rates suppressed California home sales in April 2023, while the statewide median home price climbed above the $800,000 level for the first time in six months.
Asian, Pacific Islanders Face Higher Housing Payment Burdens Than Any Other Race in U.S.
Based on a new study by Zillow, Asian and Pacific Islander families bear the highest housing payment burdens among all races in the U.S., highlighting the unique financial strains many within the communities encounter.
Mortgage Delinquency Rates in U.S. Drops to All-Time Low in March
2.6% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 0.3 percentage point decrease compared with 2.9% in March 2022 and a 0.4 percentage point decrease compared with 3% in February 2023.
