The latest housing market as well as economic data is holding up well and a strong job market is helping households shoulder the worsening burden of rising prices. With consumers having to pay almost 25% more for their monthly housing cost this year than last year, and having their incomes stifled by inflation, purchasing a home is getting tougher financially for many buyers. Despite this apprehension, home sales have remained strong up to this point. Housing supply also seemed to have improved, with construction spending climbing, while inventory of existing homes continued to head in the right direction.
The California Association of REALTORS® strongly OPPOSES Assembly Bill 1771, authored by Assemblymember Chris Ward, which attacks private property rights by imposing up to a 25% tax on the gain from selling a home or other real property
Jeffery Butscher, a longtime member of the SBAOR, passed away suddenly on January 9th. Jeffery served as a director for the South Bay Association of REALTORS, as well as a director for the Greater South Bay MLS. He made many contributions to the association and to the real estate industry. Additionally he played an important role in GSB MLS’s successful merger with CRMLS. He will truly be missed!
South Bay Association of Realtors® was honored to host Eileen Kendall as she delivered informative legal update on eviction moratorium and rent control laws across state, county, and city boundaries.
The North Torrance Neighborhood Association with the support of the South Bay Association of Realtors®, the City of Torrance – Public Works Department, Sunflower Farm Nursery and other community partners have worked to create a green community gathering space between 180th and Yukon Avenue.
Congressional leaders released a long-awaited framework Thursday for President Joe Biden’s signature Build Back Better plan, proposing a top-line price tag and an outline of new social programs.
On Thursday, September 16, Governor Newsom signed a number of C.A.R.-supported housing bills, including SB 9 (Atkins), SB 10 (Wiener), and AB 1174 (Grayson), which will help tackle the state’s housing supply crisis. SB 9 will allow for homes that meet the specific requirements of the bill to build duplexes and for owner occupant owners to split their lots and build additional units.