News

NAR Update... With the Federal Reserve lowering interest rates, how many more cuts are on the horizon? NAR’s Chief Economist Lawrence Yun answers this question in the latest Ask the Economist. Have your own questions for Lawrence? Email AskTheEconomist@nar.realtor .

California home sales hit highest level since February, C.A.R. reports Existing, single-family home sales totaled 282,590 in October on a seasonally adjusted annualized rate, up 1.9 percent from 277,410 in September and up 4.1 percent from 271,370 in October 2024. October’s statewide median home price was $886,960, up 0.4 percent from $883,640 in September and down 0.2 percent from $888,740 in October 2024. Year-to-date statewide home sales were up 0.8 percent . For full rep

Update from C.A.R..... When Congress failed to pass funding legislation by September 30th, the federal government shut down October 1st. As the shutdown continues, some home funding programs may be affected and impact your transactions. For additional details, read C.A.R.’s updated Government Shutdown F.A.Q. (which includes a link to HUD’s already-approved condominium projects) at https://www.car.org/-/media/CAR/Documents/Gov_Shutdown_FAQs