The WPJ

Irvine

Only 17 Percent of Current Residents Can Afford to Buy a California Home in 2024

The California Association of Realtors is reporting that only seventeen percent of the state's homebuyers could afford to purchase a median-priced, existing single-family home in California in the first-quarter 2024.

U.S. Homeowner Equity Dips Again in Early 2024

Based on data from ATTOM's newly released first-quarter 2024 U.S. Home Equity & Underwater Report, 45.8 percent of mortgaged residential properties in the United States were considered equity-rich in the first quarter.

U.S. Home Price Appreciation Accelerated in February

Like many economic metrics, the journey toward stabilizing the U.S. housing market is fraught with challenges. Although there has been a modest recovery in home sales and inventories from last year's lows, elevated mortgage rates continue to hamper affordability, deterring many potential buyers.

California Home Sales Uptick in February

Based on new data from the California Association of Realtors, despite a recent uptick in mortgage rates, California's housing market continued to demonstrate resilience in February 2024, reaching sales levels not seen since September 2022.

Irvine Property News












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