July 6, 2001 |
The number of residents able to afford homes in California in May inched up 2 percentage points to 33% over the same period last year, the California Assn. of Realtors said. In Orange County only 23% of residents were able to afford homes, whereas in Los Angeles and Ventura counties, about 36% of residents could afford a median-priced home in May.
May 12, 2001 |
New homes have been one of the hottest segments of the housing market, but a growing number of builders in California are reporting an increase in the number of buyers canceling orders. The rise has been dramatic in Northern California, where fallout from the high-tech decline is spreading. But more home buyers in Southern California also are pulling out of deals to purchase new homes.
March 28, 2001 |
Some of California's largest and most well-known owners of commercial real estate have created a consortium to work with the Building Owners and Managers Assn. to respond to the state's energy crisis. The consortium--which is spearheaded by Arden Realty, Equity Office Properties Trust, Irvine Co. and TrizecHahn Corp.--is working with other groups on recommendations to boost energy efficiency in private and public buildings.
March 27, 2001 |
Sagging consumer confidence sent existing-home sales lower in February both nationally and in California, while median home prices on both fronts continued to rise, according to trade group reports. But analysts said the nation's housing market as a whole is still strong--bolstered in part by falling mortgage interest rates. Economists hope strong demand in the housing sector will continue to shore up the country's ailing economy.
March 9, 2001
* The state's housing affordability remained steady in January for the first time in almost two years, according to a California Assn. of Realtors report. About 34% of the state's households could afford to buy a median-priced home in January, which was unchanged from January 2000.
February 27, 2001 |
The percentage of Californians owning homes hit a record level last year even though prices surged to an all-time high and interest rates inched up slightly, according to a federal report released Monday. Boosted by buyers in Orange County, San Diego and San Jose areas, the number of homeowners amounted to 57.1% of all households in the state, the highest rate since the Census Bureau began maintaining annual figures in 1984. Nationwide, the homeownership rate rose to a record 67.