The Southern California median home price rose 12% in August, as people took advantage of rock-bottom interest rates amid the COVID-19 outbreak.
Sales of existing homes jumped 10.5% in August compared with a year earlier, outpacing new home sales for the first time since 2015, according to Redfin. That came as fewer new homes were listed for sale. “If that went on for two or three years, we’d be very concerned about affordability,” Burns said. “Every time prices go up, it’s great for homeowners and bad for the renter who aspires to be a homeowner.”Stocks of home builders have climbed in recent months as orders for new homes surge. The looming issue is that the demand for housing is outstripping supply at a time when construction has gotten more expensive.
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There are homes to buy in Southern California but look in Riverside County for bargains.
Short supply of barely affordable homes.
Does anyone really think it's an accident the money is gone, and so are all of the houses? Guess why they're gone, go on guess. They are being bought by banks! They are still empty, in fact more and more evictions are being processed. There should be plenty of houses available.
What happened to them 3D printed Houses?
Trust me ... they’ll make more. ✨
Your paper is the most negative paper I have ever read fear fear fear everything is wrong until we elect senile Joe then all the world problems will disappear but he has had 40 years to do this and nothing to show for it
Can you please talk about the disproportionate numbers of people who can’t even afford to pay their rent? Honestly.
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Source: Reuters - 🏆 2. / 97 Read more »