California’s Median Home Price Climbs to New All-Time High

From the Pacific Union blog:
The latest monthly home sales and price report from the California Association of Realtors puts the median sales price for a single-family home in the state at $600,860 in May, up 9.2 percent year over year for the highest annual rate of appreciation in four years.  California's median price surpassed its previous peak of $594,530, recorded 11 years ago.  https://bit.ly/2K65xkv

Forecast: U.S. Home Sales and Prices to Rise in 2017

From the Pacific Union blog:
U.S. home sales volume and prices should continue to increase this year, although rising mortgage rates and declining affordability will prove challenging - particularly in expensive markets like the Bay Area. For the outlook, go to http://pacunion.us/2k4hdJN .  For more information contact FRITZ.

Home Affordability at 50%

Courtesy of Interest.com, October 17, 2012:

A median-income household can only afford a median-priced home in 14 of the nation’s 25 largest metropolitan areas.  Atlanta, Detroit and Minneapolis-St. Paul are the most affordable cities, according to Interest.com’s first Home Affordability Study.  San Diego, New York and San Francisco are the least affordable.

With home prices down an average of 30% from their peak in 2006, and mortgage rates at record lows, there’s a lot of talk about how homes are more affordable now than they’ve been in decades.
In some places, that's true.  But in many cities, it’s not.  Read more . . .

Housing Recovery May Finally Be Here

Courtesy of CNNMoney:

NEW YORK (CNNMoney)--It's been a long time coming, but economists surveyed by CNNMoney believe the nation's housing market has finally turned the corner.  Of the 14 economists who answered questions about home prices in the survey, nine believe that prices have already turned higher or will make that turn later this year.  Read more . . .