Flippers and move-up buyers are out in force, and foreclosures are shrinking to an increasingly minor part of Sacramento’s housing market, DataQuick said Thursday.
In another nod to San Francisco’s increasingly upbeat economy, the Planning Commission called Thursday for an end to a 3-year-old fee deferral program designed to prop up the then-struggling local construction industry. “The commission has seen big increases in permit activity,” said AnMarie Rodgers, manager of legislative affairs for the Planning Department. “Certainly everyone agrees that the economic situation is far better now than when the program started.”
Bay Area single family home prices continued a skyward climb in May, reaching their highest level in more than five years, according to a report Thursday. Median sales prices in the sizzling market were given an upward nudge in the East Bay, Peninsula and South Bay by multiple offers for a scant supply of houses for sale and by a change in the market mix to favor higher-priced homes, said real estate information company DataQuick.
Foreclosure listing service RealtyTrac says “notices of default,” the first stage of the foreclosure process, went up by just over 3% from April to May. RealtyTrac’s Daren Blomquist says it was the fourth straight monthly increase. But Blomquist says it’s not a sign of any new problems in California’s housing market.
Company: JDSU Uniphase Corp.CA Net Job Gain/Loss: -125Reason: LayoffCity/Region Losing Jobs: Santa Rosa, CA
Home prices are shooting up across the nation with the Bay Area leading the pack — but which submarket has soared the most? Oakland.
Annual and monthly permit data for the state, counties, and metropolitan areas
Accelerating Job Creation in California Through Infrastructure Investment: Opportunities for Infrastructure Asset Formation and Job Creation Using Public-Private Partnership Procurement Methods
“. . . assess the potential for P3 projects in California and the conditions under which the state is likely to attract investors. “
U.S. builders and the subcontractors they depend on are struggling to hire fast enough to meet rising demand for new homes.
Los Angeles homebuilder KB Home, one of the largest production homebuilders in Southern California, narrowed its loss to $12.5 million in the first quarter as the outlook for new construction improved.
Even before dawn breaks, workers at the lumberyard in Lynwood were bustling around, getting a move on the day. Men in yellow safety vests drove flatbed trucks stacked to the brim with planks of wood. Others were buzzing around in forklifts, ferrying more boards.
California’s rate of homeownership continued a years-long slide in 2012 and is now the second lowest in the nation, according to a new Census Bureau report.
Heralding continued strength in the housing market locally and nationwide, home prices in major California cities jumped considerably year-over-year, according to data released Tuesday.
California’s median home price struck a four-year high for a December, indicating housing will probably continue to mend in the new year.