What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

How real estate agents can increase profitability in 2021

As real estate professionals strategize on how to do business in this competitive, fast-paced market, they’ll discover the need for better tools to market their listings.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Real Estate

L.A. is the hottest housing market in California

Los Angeles' median price was $550,000, up 7.4% from a year earlier

Los Angeles beat San Francisco in November as the hottest real estate market in the nation’s most populous state, according to a report by the California Association of Realtors.

The median price of a single-family home in the L.A. metro area was $550,000, up 7.4% from a year earlier, and sales gained 3.4%. The median price in the San Francisco Bay area was $925,000, up 2.2%, and sales fell 4.8%, according to the report issued on Wednesday.

Looking at the whole state, the median price was $589,770, up 6.4% from a year earlier, the biggest annual gain since July 2018, and sales increased 5.6%, the report said.

Low mortgage rates are supporting housing demand, even as buyers strain to afford the state’s pricey markets, according to CAR Chief Economist Leslie Appleton-Young. The average U.S. rate for a 30-year fixed mortgage was 3.7% in November, more than a percentage point lower than a year ago, according to Freddie Mac data.

“We’re seeing a more robust market in the second half of the year, driven primarily by the lowest interest rates in nearly three years,” said Appleton-Young. “While uncertainties and supply constraints will continue to dictate the market outlook in 2020, the California housing market will likely wrap up 2019 in slightly better shape than previously thought.”

Central Valley, an inland swath that runs about 450 miles north from Bakersfield, had the state’s cheapest median price during November: $340,000, up 6.3% from a year earlier. Sales in that region rose 0.6%, the CAR report said.

The Inland Empire, east of Los Angeles, had a median price of $379,000, up 4.2% from a year ago, and sales were up 0.7%, the report said.

Most Popular Articles

FHFA extends forbearance period to 18 months

In an effort to protect homeowners, the FHFA extended forbearance coverage to 18 months and pushed the eviction and foreclosure moratorium to June 30.

Feb 25, 2021 By

Latest Articles

Keller Williams, and brokerage’s diversity shortcomings

Some of Keller Williams’ agents slammed the recent white male musical chairs. But the brokerage is hardly alone in lacking diversity at the top. HW+ Premium Content

Mar 01, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please