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!
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.
Each city and county in California is required to have a Housing Element and update it at least every eight years. Updating the Housing Element gives the City a clear picture of housing-related issues such as: housing supply and demand, the types of housing available within the City, housing affordability, and homelessness. Once the Housing Element is updated, it must be approved by the California Department of Housing and Community Development (HCD). Updating the Housing Element will ensure that the City meets State requirements and makes it eligible for State grants and other funding resources. It will also provide the community with clear guidance on housing issues facing the city.