Luna Realty

Active listings hit historic new low in December, with less than 700K: The national inventory dropped by almost 40 percent year over year in December, according to a new report released Friday by realtor.com.

2021 opens with a new record low for mortgage rates: The average 30-year mortgage hit an all-time low of 2.65 percent this week, according to data from Freddie Mac released Thursday.

C.A.R.’s Housing Affordability Fund’s Home Essentials Program will provide qualified first-time California homebuyers a $1,250 Lowe’s Gift Card to purchase appliances for their new home. Due to limited availability, funds will be distributed on a first come/first served basis. Launch Date: January 8, 2021 How to Qualify:... Be a first-time homebuyer Contact us and we do the rest Purchase a primary single-family residence in California with the intent to occupy the property as a primary residence The conforming loan amount on the single-family residence must be at or below the FHA conforming loan limit (inquire within) The purchase of the single-family residence must use financing. All-cash purchases do not qualify See more

30-year fixed rates fell by 1 basis point to a new low of 2.66% in the week. This time last year, rates stood at 3.74%. 15-year fixed rates fell by 2 basis points to 2.19% in the week. Rates were down by 100 basis points from 3.19% a year ago. 5-year fixed rates held steady at 2.79% for a 2nd consecutive week. Rates were down by 66 points from 3.45% a year ago.

The Federal Housing Administration (FHA) said that it has extended through Feb. 28 its moratorium on evictions and foreclosures for holders of single-family mortgages insured by the division of the U.S. Department of Housing and Urban Development (HUD). The moratoriums had been set to expire on Dec. 31. The FHA's move joins similar extensions put in place by the government-sponsored enterprises Fannie Mae and Freddie Mac, which are part of the independent Federal Housing Finance Agency (FHFA).

The latest figures from the National Association of Home Builders show that August new home starts rose to the highest level in 14 years, up 43% from a year ago.

Residential investments push US GDP up 33.1% in the third quarter: According to the Commerce Department, the GDP rose 33.1 percent in the third quarter of 2020, due to increased consumption and residential investments.

Proposition 21 Explained: The proposed rent control overhaul allows local jurisdictions to put rent control in place for all kinds of housing, including single family homes, condos and townhomes. This proposition would replace the Costa-Hawkins Rental Housing Act of 1995. Under Costa-Hawkins, landlords can raise rents after a tenant moves out, but Prop 21 would put a limit on how much they can raise the rent of a vacated unit to 15% over three years.... Proposition 19 Explained: Proposition 19 limits property tax increases on primary residences for family transfers, homeowners over 55 years old, people with severe disabilities, and victims of natural disasters or wildfires by removing unfair location and price restrictions. This will open up tens of thousands of housing opportunities, making homes more readily available for first-time homeowners, families, and Californians throughout the state.

SEPTEMBER 2020 HOUSING MARKET UPDATE - Existing, single-family home sales totaled 489,590 in September on a seasonally adjusted annualized rate, up 5.3 percent from August and up 21.2 percent from September 2019. - August's statewide median home price was $712,430, up 0.8 percent from August and up 17.6 percent from September 2019. - The statewide Unsold Inventory Index was 2.0 months in September, down 4.8 percent from August and down 44.4 percent from September 2019.

New residential home sales increase 32 percent: Sales of new residential homes were up 32 percent year over year, according to data released Monday by the U.S. Census Bureau.

Sizzling home sales push Southern California prices to fourth record high: The housing market rebound extended into September, with sales up 22% and prices rising 15% from year-ago levels.

Inventory hits record low: As year-over-year, existing-home sales soared 21 percent in September, inventory dropped to a 2.7-month supply, according to data released Thursday by the National Association of Realtors.

Home price gains continue to climb in third quarter: 77 percent of metros analyzed posted double-digit annual home price gains and 86 percent saw profit margins increase.

Single-family rent prices on the rise again: In August, rent prices rose 2.1 percent across the U.S., the first time prices rose more than 2 percent since the start of the pandemic.

September was a record-breaking month for prices, sales and speed: Rising home prices, increasing sales and fewer days on market characterized a historic September.

Mortgage rates sharply fell this week reaching a new record low. Following the trend of the 10-year Treasury yield, the 30-year fixed-rate mortgage dropped to average 2.81% this week from 2.87% the prior week.