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If you are a regular reader, then you know that I have committed to reporting on the California Association of Realtors (C.A.R.’s) Housing Affordability Index every quarter. In my opinion, there is no greater predictor of future prices throughout the state of California. I’ve reported on the Housing Affordability Index (HAI) since the beginning of this weekly blog dating all the way back to 2015, but only recently have I committed to the quarterly report after seeing what looks to be a warning sign in the past 2021 Q2 report. For reference, please look at that August 2021 post here: “California Housing Affordability Index Might Be Flashing Warning Signs” Below is the new C.A.R. Q4 number
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The blog for the majority of this year has covered lack of inventory, surging prices, and a seller’s market like we have never seen before. Last week, I did my best to help buyers find some sort of value in our South Bay home market. It was a struggle to find any semblance of a deal, but a few readers reached out with appreciation for the effort. If you would like to revisit that post, then you can check it out here: “Looking for Value in an Expensive South Bay Home Market” Setting the meager value options aside, the parabolic surge in home prices paired with a severe shortage of homes for sale has turned the
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This South Bay real estate market just won’t quit. If you are a prospective buyer home hunting, then you are likely exhausted and discouraged. If you are a recent home seller, then you enjoyed a painless process collecting multiple offers and selling for a big price. Thanks to an acute shortage of homes on the market, quite simply, there are just not enough homes to go around in the South Bay Beach Cities & Palos Verdes Peninsula. To give you an idea in numbers, let me show you how few homes there are for sale. Between Manhattan, Hermosa, Redondo Beach, and the Palos Verdes Hill, as of February 9th, there were 148 home listings marked as
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February is Black History Month. This month is a time to honor African Americans and raise awareness of black history. While this month should hopefully be a celebration of achievements, it is also a time to bring awareness. And, for the South Bay, there have been barriers, thanks to real estate restrictions, from having a more robust, positive history to share during Black History Month. We can learn a lot from our local history and take time to reflect on how to make our world – and South Bay neighborhoods – more inclusive. For this week’s blog, I plan to share local content as a resource to you, additional local history (unfortunately ugly), professional experiences, and
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