Must-Reads

Pacific Union Blog Post

California Home Price Growth to Moderate in 2019, Forecast Says Golden State home price appreciation is projected to slow to a six-year low in 2019, although rising mortgage rates will reduce affordability even further. Details are on Pacific Union’s blog: https://pacunion.us/2PuJeI1

Real Estate Roundup: Millennials Prioritize Homeownership Over Marriage and Children Most millennials think that buying a home is a top priority. Also, mortgage rates are nearing the 5 percent mark. Check out these and other key housing headlines in Pacific Union’s latest Real Estate Roundup at https://pacunion.us/2El8eQP

As Mortgage Rates Rise, So Does Mortgage Fraud Intense demand for U.S. real estate combined with a shortage of homes on the market have caused prices to soar over the past few years, helping to fuel an increase in the number of Americans who are dishonest on their mortgage applications. Read more at https://pacunion.us/2CxSNTr

California Claims 6 of the Nation’s Top 10 Environmentally Friendly Cities in 2018 For the second year in a row, most of the greenest cities in the U.S. are in California, again reflecting residents’ environmentally conscious natures. For more, go to https://pacunion.us/2Pup8NQ

Downsizing Homes Can Save Californians Big Bucks Homeowners in one California city can save nearly $800,000 by downsizing from a five-bedroom residence to a three-bedroom property. https://pacunion.us/2NnGc6c

U.S. Home Price Grwth Slows to 2-Year Low in August America’s housing market continues to see annual price appreciation, but gains are beginning to slow, driven in part by higher mortgage rates. Potential homebuyers in California and the Bay Area, however, are not seeing as much relief, with prices growing at roughly double the national average. https://pacunion.us/2Ox98xq

Bay Area Buyers Require the Country’s Largest Incomes to Afford a Home Almost one-third of the U.S. population now lives in an area where a six-figure income is necessary to afford a home purchase, and here in the Bay Area, buyers will need to earn quite a bit more than that to get a foot in the door. https://pacunion.us/2O5GVhT

California Projected to Post the Largest Home Price Gain in the U.S. by Next Summer Golden State homeowners once again enjoyed the largest equity gains in the country in the second quarter, and that trend appears poised to continue, as California’s is projected to lead the U.S. for annual home price appreciation by the summer of 2019. https://pacunion.us/2P8xzOZ

Pacific Union Chief Economist Selma Hepp digs into the implications that Proposition 10 – which would repeal the Costa-Hawkins Rental Housing Act – would have on California housing markets. https://pacunion.us/2Od6A7F

California’s August Job Gains Are Another Win August was another solid month for job additions in California, with employers creating 44,800 positions and the unemployment rate remaining at a record low. Get Pacific Union Chief Economist Selma Hepp’s take on the latest numbers. You’ll find it exclusively at https://pacunion.us/2puVnBg