If you’re in the market to buy or sell a home, you should read the latest real estate news before making any decisions. There are countless articles that cover various aspects of the industry, from Sacramento’s recent real estate boom to the Foreclosure inventory in the judicial states. You can also find information about the National Association of Realtors and the housing market in your city. But, you can also read about the latest trends in the industry.
Sacramento’s real estate boom
As California’s economy strengthens and the housing market continues to recover,
Sacramento’s construction and real estate jobs continue to rise. As of 2018, building permits in the Sacramento Country area totaled 4,205, an increase of 17% over the year before. The number of permits for multi-family buildings fell, however, from 2,868 to 2,266. The increase in single-family housing permits indicates a robust housing market.
One of the main reasons for the city’s housing market’s continued growth is its proximity to San Francisco and San Jose, two of its largest competitors. The relatively lower cost of Sacramento real estate has helped the city to attract newcomers, who earn higher wages than local residents. While the demand for Sacramento real estate has increased, the supply of homes has remained low, which has allowed prices to increase without affecting affordability. Despite these limitations, Sacramento’s housing market has property news to be an extremely competitive one, with prices rising without sacrificing demand.
Foreclosure inventory in judicial states
The number of foreclosed homes in the U.S. is on the rise. The foreclosure rate in the judicial states is 6.5 percent, while the number in the non-judicial states is 2.46 percent. The percentage of foreclosed homes in judicial states is higher because of the number of loans delinquent more than two years. Approximately 53 percent of the foreclosure inventory in judicial states is comprised of such loans.
The shadow inventory in judicial states indicates that many homes are lagging behind the pace of recovery. The shadow inventory is highest in Florida and the Northeast, where Camden, NJ and New York are at more than 40 months of inventory. Other states, such as Orlando,
Jacksonville, and Chicago, are suffering from more than 18 months of shadow inventory. While Miami and Orlando are doing well, Chicago and New Jersey are still suffering from a high inventory of foreclosure homes.
Home rental prices in San Francisco
In a city with a large number of renters, home rental prices in San Francisco are higher than the national average. In contrast, rental prices in New York City, Boston and Washington, D.C. consistently trail the national average. In the San Francisco area, the average price of a onebedroom apartment was $2,390 in April, an increase of only 0.7% month-over-month. However, the year-over-year increase was 12.1%.
When comparing home rental prices in San Francisco, keep in mind that a lower ratio will favor the buyer. A higher ratio will favor the renter. A lower price is better for a rental if the renter can afford the home. The price-to-rent ratio in San Francisco can go either way. However, you should be aware that this ratio only tells part of the story. Renters need to consider the other costs and not just the price.
National Association of Realtors
Providing you with the latest information in the real estate industry, the National Association of Realtors publishes real estate news every week. The Association is a trade association of real estate workers and is dedicated to promoting professionalism and ethics in the industry. The association’s news releases include information on upcoming events, home prices, and new listings. For more information, visit their website. Here are a few of the most recent reports published by the association.
One such release is a plan released by the Biden-Harris Administration to address racial bias in home appraisals. The PAVE Action Plan was designed to eliminate bias in the home appraisal process. Another piece of real estate news released this week is the passage of a bill in Tennessee’s state legislature by a REALTOR (r) and State Rep. Jason Powell. This bill aims to study the feasibility of building an Amtrak rail line in the state.